T2S and CSD Regulation to Obviate National Depositories

The T2S panel was held on Tuesday at Sibos 2013, in Dubai. Photo credit: Swift.

At a Sibos 2013 panel on T2S, speakers debated the simultaneous effects of the two moves, both of which have major ramifications for settlement processes in the Eurozone.

"We're going to see a consolidation, but you're also going to see a new breed of CSDs," said Nadine Chakar, EVP of global collateral services at BNY Mellon. "Local CSDs are going to have some problems with the pressure of facing CSDR and T2S at the same time. It's going to be a game of scale, and will need a change in their bus

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