Placing Platform Limited (PPL) has provided an update on its plan to shut down its old platform, confirming it will go ahead in disabling user access on PPL v3 by December 15.
In a news release, PPL said Next Gen will be the only PPL platform available to quote, bind and endorse risks starting December 16. Transactional activity will also be disabled on the old platform by December 15. The creation of the market’s Audit Trails will begin thereafter, and the data will be delivered to firms by January 12, 2024, the emailed news release said.
“It is important that the market prepares for the upcoming change by completing all endorsements. Completing the shutdown allows us to focus all of our resources on enhancing Next Gen,” said Joe Gordon, CEO of PPL.
By December 31, user access to PPL v3 will be removed, and subsequently the platform will be decommissioned. All data held will be deleted, according to PPL’s Ebix decommissioning update shared on November 15.
All market firms will receive their complete Audit Trail(s) via post/courier on highly secure encrypted USB devices (FIPS 140-2 level 3), with the associated PIN and passwords being made available separately to a designated person(s) via a specially created secure web application.
According to PPL, the firms have until January 26, 2024, to review their Audit Trail(s) for completeness and correctness. Any issues beyond this date can no longer be resolved.
To learn more about the decommissioning, please visit the PPL site for updates.
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