Six Securities Prepares for T2S, as Survey Finds Increased Settlement Costs Likely

A survey of attendees at Sibos 2013, in Dubai, has found that participants expect settlement costs to increase thanks to the Target2-Securities (T2S) project, according to the conductor, Six Securities Services.

T2S is a planned pan-European settlement platform, operated under the aegis of the European Central Bank, which will offer a harmonized delivery-versus-payment settlement model in central bank currency in most European securities.

In terms of the survey results, 63 percent of respondents believe that T2S will increase the cost of Eurozone settlement in the short term, while 88 percent believe that it will lead to a consolidation of central securities depositories (CSDs).

All respondents, however, agreed that T2S will lead to an optimization of collateral management processes. In the video above, Bob Almanas, head of international services, talks about how Six Securities Services is preparing for its entry in the first wave of T2S migration, scheduled for 2014.

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