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.
WatersTechnology attended the Futures Industry Association's annual conference in Boca Raton, Florida. These are the takeaways.Subscribe to Weekly Wrap emails
- The Insurgents: Fintechs Are Knocking Off Incumbents
- CFTC Commissioners Lash Out at EC Clearing Proposals
- Waters Wavelength Podcast Episode 113: IBM's Lund on Blockchain's Evolution
- Wrestling Over Competing Mifid II, GDPR Data Demands
- MarketAxess Banks on Asian Electronic Markets with BlackRock Partnership