European Central Bank Taps SIA-Colt for Target2-Securities Connection
ECB to utilize the SIA network infrastructure to connect to pan-European securities settlement platform.
The ECB-pioneered project is aimed at creating a harmonized pan-European landscape for the settlement of domestic and cross-border securities transactions. The first migration wave to the new platform was in June 2015, with the second phase scheduled for March 2016.
Colt and SIA will provide the ECB with the networking infrastructure to connect to the platform, after receiving one of the two Value Added Network Service Provider licenses. The ECB is scheduled to join the infrastructure in June this year.
"After the success of the first T2S migration phase, with a large proportion of the data traffic being carried by SIA and Colt, we are very pleased to be working on this project with the European Central Bank," says John Loveland, VP of capital markets at Colt. "Colt and SIA will provide the ECB with a fully-managed, high-performance, highly-scalable T2S connectivity and messaging solution, with guaranteed service levels ─ enabling them to focus on their core business instead of the underlying infrastructure."
Colt and SIA have previously worked in partnership to faciliate T2S access for BNP Paribas Securities Services, Deutsche Bundesbank, and Hungarian central securities depository Keler.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
CME marks cloud migration milestones, new FIX guidance for brokers, and more
The Waters Cooler: A recap of the major tech and data news from the past week in the capital markets.
How Quoniam boosted its sentiment strategy by adding an LLM
The asset manager’s upgraded system creates scores from more-informative forward-looking parts of news.
WatersTechnology latest edition
Check out our latest edition, plus more than 14 years of our best content.
Tech and data fragmentation irks enterprise risk managers
Often at the mercy of decisions made by other parts of the bank, ERM heads gripe at disparate systems, poor UX, and reporting gaps.
When trading systems disagree: a deterministic architecture for event sequencing
Modern trading platforms execute millions of events at extraordinary speed, but speed alone does not ensure that every downstream system shares the same view of reality, says Gaurav Tiwari.
Goldman exec: Dec. 6 a ‘lighthouse’ for EU T+1 readiness
Officials from JP Morgan, the European Central Bank, the National Securities Depository, and Goldman Sachs explained how T+1 preparation needs to be different in the EU than in the US, while speaking at Sibos.
Month-long power glitch hits key APAC trade surveillance tool
Nasdaq’s alert functions were restored, but users say testing and calibration tools were still disrupted.
Bankers question value of round-the-clock trading
BNY and State Street execs predict the arrival of extended-hours trading will come with a hefty price tag for industry firms.
