T2S Leads BNY Mellon to Expand European Settlement Data Capability

Target2-Securities platform catalyzes bank's ISO 20022 upgrade

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Tom Casteleyn, head of product management for custody, cash and FX, BNY Mellon

The standardization provided by Target2-Securities (T2S) has fundamentally changed the way BNY Mellon does business in Europe, says its head of product management for custody, cash and foreign exchange.

Tom Casteleyn tells Inside Reference Data that the bank, which is the world's largest custodian, wouldn't have made the upgrade to its infrastructure that allowed it to support ISO 20022 had it not been for T2S.

T2S is a centralized securities settlement platform for the European Union. Casteleyn

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