SIA-Colt Wins Deutsche Bundesbank T2S Tender

The central bank will be on the first wave of migrations to T2S, scheduled for 2015. The platform is a pan-European project that will handle most securities settlements for instruments in central bank money. Various phases of migration will take place, with the largest being on the back end towards 2016 and 2017. Two providers, the SIA-Colt consortium and messaging provider Swift, have been selected to handle connectivity.

"With the clock ticking on the first phase of migration to T2S, now is the time when central securities depositories and banks across Europe should be choosing their service providers," says Hugh Cumberland, financial services solution manager at Colt. "We are very pleased to be working on this project with Deutsche Bundesbank, one of the biggest central banks in the world."