SocGen Taps Swift for T2S Connectivity

Société Générale Securities Services is to connect to T2S using Swift's Value Added Network.

Société Générale Securities Services (SGSS) has chosen to use Swift's Value Added Network (VAN) to connect to the Target2-Securities (T2S) platform.

The T2S project, led by the European Central Bank, aims to create a single pan-European platform for securities settlement in central bank money. It is due to go live by June 2015.

Using Swift's VAN will allow SGSS to provide direct access to T2S for settlement, and local and global custody support for each European market where securities are issued.

Six Securities Services and Clearstream have recently announced they will also be migrating to the T2S platform using the Swift network.

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