Minutes of the Austraclear User Group Meeting 09 November 2007
Mike Wolyncewicz (MW)- opened the meeting with introductions and an update on the ESAS/Austraclear Upgrade. MW explained the implementation period process and was pleased to announce that the changeover in general had been a success.
MW explained that we are now in a position to enhance the system and that the Bank has a newly developed BDT Team which is dedicated to system improvements.
Members were reminded to complete the PIR questionnaire and provide feedback. A draft ‘to-date’ copy of the PIR was made available to members.
Dave Stanesby (DS) explained the contention problem that occurred within the first week of go-live. The general consensus with members was the three issues, screen size, speed and reporting. Dave gave some information on how to modify settings and how the Bank and members can improve connectivity settings. Simplification and education to members will be made to reporting.
MW updated members on the Austraclear Advisory committee and introduced the Chairperson – Scott Sinclair from Westpac. Members provided no feedback.
Kevin Jamieson (KJ) introduced himself and Donna McDiarmid (DMcD) as the Bank’s BDT. KJ gave an update on what the plans were for the BDT in the future.
DMcD gave an overview of the ASI functionality and encouraged members to consider their STP environment as a efficient way of processing.
KJ spoke about further STP developments and the redesign of the front end of the system, improved reporting, and data publications that will be made available via our web site.
DMcD showed draft examples of the front end redesign which Ben Waterreus had been working on. The consolidation of approximately 40 screens into 3 received good customer feedback later on in the day. As the end users of the system, members were invited to provide feedback or ideas.
Members were advised of the work currently being done on the automation of the lodgement and uplift process. This enhancement will reduce the amount of paperwork and the turnaround time of processing.
Action Point - Robbie Douglas from ANZN has requested that a schedule of enhancements be distributed via the Austraclear Advisory Committee.
MW introduced Peter Gallagher (PG) from the RBA. PG gave an update on the payments and settlements market in Australia. PG explained how the RITS processed worked and what their future developments are. PG gave an overview of the newly formed property module working with Victoria Land to enable the timely processing of mortgages. With an internet environment the RBA have the infrastructure in place to enable processing of mortgages with all relevant counterparties to be done on-line.
Adrienne Barlow (AB) gave an overview of the NZCSD business activity for the last 6 months including statistics which remained steady over both transactional and depository services.
System outages were minimal for YTD with exception of an IP Net outage in Australia in August. The outage was a result of our Telco in Australia disconnecting the dial up service earlier than scheduled. September outages post go-live were as previously advised by DS and MW.
AB advised that we would be canvassing the market for feedback on the extension to EOD Austraclear as a result of the recent Daylight Savings Change. The change was made to facilitate the lodgements and uplifts for Australian Members and counterparties given the 3 hour time difference. The NZX had also extended their cut-offs.
KJ gave an overview of the Banks BCP for the new system. Supportability has been improved as a result of the recent upgrade.
Members are advised to consider the internet as a BCP alternative. Members should also try to utilise 2 ISP’s and ensure that they have sufficient tokens at sites to ensure continuity. A BCP configuration slide was presented to members.
The alternating business site in Wellington was used for 2 weeks prior to go-live for testing. A quarterly test of the BCP is scheduled for 20th November.
MW requested members participation in the renaming of Austraclear. Unfortunately we didn’t receive much feed back from Members.
