This article documents the current developments in the Fontus project of the WM Datenservice, which aims to modernise the delivery of master data for securities. Building on the efforts of the EDDy_neu project, Fontus aims to achieve a far-reaching revision and improvement of the data delivery processes.
In response to numerous requests from market participants, WM Datenservice has decided to bring forward part of the D20 specification. This is the project’s central description document, which enables translation between the old VF-1 and new XML data worlds. After a technical and functional analysis, approximately 60 percent of the data fields were identified and can be made available to the participating institutions for internal testing in advance. Depending on the individual delivery format, this corresponds to a number of up to 564 fields. The old BID structure is retained for the early fields in accordance with the current productive delivery. The provision of the early fields is planned as a separate product for the end of April 2025, but no later than 23 June 2025. The changeover for customers is optional.
It is particularly possible to bring forward the fields in the areas of exchange (U), master data (G), annual general meetings (H), corporate actions (K) and income (E), as well as drawings (V) (see graphic). Due to the technical effort involved, trading centre and segment data cannot be brought forward for the most part, according to the announcement made by WM at the 3rd Fontus User Group Meeting on 13 January 2025.
Source: WM Datenservice, 3. Fontus User Group, 14 January 2025
About 7 per cent of the fields brought forward were implemented by the end of January 2025. However, according to WM, these preparations tie up considerable resources, which also has an impact on the internal timeline. The end of development planned for February 2025 has now been pushed back to the end of May 2025. However, the external core milestones could still be met. Nevertheless, this results in an adjusted approach to migration preparation with a focus on testing the initial migration in the third quarter of 2025 and the subsequent test of daily deliveries from the fourth quarter of 2025.
Leverage added value of the early D20 specification
Most projects or applications in the banks’ securities segment do not rely on the entire D20 specification. By bringing forward certain data fields, it is now possible to evaluate earlier preparatory work within the framework of EDDy_new, to initiate the migration in individual applications if necessary, and to prepare for testing. This will help to even out the Fontus migration project in terms of time and save resources.
In view of the short-term changes described and our experiences from the predecessor project EDDy_neu, it can be stated that only with close tracking of the project updates can added value be gained from the early D20 specification. Our consulting team will be happy to support you here.
‘Greenfield migration’ or ‘update variant’
In the meantime, a revised migration concept D35 has also been published, taking into account the D20 changes. The document describes the technical steps required to enable WM data customers to continue processing data from WM after the delivery switch to Fontus. Customers have the following options in the context of the switch:
- Update variant: Customers can convert their existing productive systems using the Fontus data contained in the migration files. This variant is recommended by WM.
- ‘Greenfield migration’: Customers can import the entire database (up to a maximum of 500,000 ISINs) into a newly set up instance of the customer system. The data is imported into an ‘empty’ instance of the customer system at the beginning of the migration.
The migration window in September 2026 is currently planned as follows:
- 1st weekend: data provision for customer review.
- 2nd weekend: migration execution / go-live weekend.
- Fallback weekend: provision of files for migration if the migration could not be successfully completed on the migration weekend.
The D35 migration concept will result in numerous changes for WM-connected customers. The associated migration guide (D42) is currently being revised. Further changes are to be expected. We are also supporting market players with an impact analysis at this point.
New Fontus Service Desk
In terms of customer information, WM Datenservice has further optimised the Fontus project: the Fontus Service Desk has been replacing the Fontus Information Center (ICF) since 31 January 2025. A structured ticket system with centralised request management has been introduced. A knowledge database provides an overview of all relevant content and documents. There is also a FAQ section where frequently asked questions are compiled and answered. An improved flow of information should also be guaranteed by a higher frequency of the Technical Sounding Board and additional user group appointments.
Conclusion
The most recent user group meeting made it clear that there is currently a considerable need for information among the market players involved and their IT service providers, and at the same time new information about Fontus is continuously being added. For a successful project planning, a precise preliminary planning of one’s own migration is therefore essential. The early D20 specification offers the opportunity to avoid bottlenecks if the technical planning is carried out carefully. DPS can support banks in project planning and preparation, as we have many years of experience in migration projects in the securities and payments area and combine both business and technical perspectives.
Please also read our article Project Fontus: The future of master data delivery
