TSI certification follows a standardised process comprising nine main steps. Before the transaction is closed, a run-up period of approximately two months is allowed for the certification process. For frequent issuers or less complex transaction structures, the run-up periods may be shorter.
1. The mandator contacts TSI
2. Application for TSI certification of a securitisation transaction
3. Kick-off meeting between the mandator and TSI
4. Review of the relevant transaction documents
5. Agreement on the investor reports
6. Preparation of the mandator's declaration of undertaking
7. Certification discussion between the mandator and TSI
8. TSI awards the certificate
9. The transaction is published on the TSI website