About

Our phased deployment approach

The digital services will be delivered in two phases

Phase one

On 1 July 2024, Velonetic (previously known as the London Market Joint Ventures) will move all users to a new single digital platform and processing services for open market and delegated authority business. 

All market firms must adopt phase one by 1 July 2024. 

Get ready for phase one

A number one with a woman standing in front of it with a laptop
A number two with a man in a suit standing in front of it

Phase two

From April 2025, phase two will be available and will offer the complete set of services that fully utilise the new digital processing platform. Market participants can choose when to move from phase one to phase two at a time that is right for their business. 

Find out more about phase two

Capabilities available across phase one and phase two 

Available in phase one (July 2024)

Available in phase two (April 2025)

Receive and send EDI messages

Yes

Yes

Transact via new portals

Yes

Yes

MRC v3 submission

Yes

Yes

CDR processing

No

Yes

EBOT/ECOT messaging query management

No

Yes

Greater automation of processing

No

Yes

Benefits of the phased approach

Taking a phased deployment approach has four key benefits.

Speed

Delivers the benefits of the digital platform sooner, reducing risk and simplifying transition.

Visibility

User testing will take place from September 2023, building confidence in the new platform.

Flexibility

Allows market firms to move from phase one to phase two at their own pace with continuous delivery.

Resiliency

Reduces market impact through a secure, cloud native approach.