Link Up Markets Taps Swift for T2S

Irene Mermigidis, managing director of the consortium, which is made up of CSDs from Austria, Cyprus, Denmark, Egypt, Germany, Greece, Luxembourg, Norway, South Africa, Spain and Switzerland, hopes the move can generate "significant cost savings."

"As a global financial services provider, Swift is perfectly positioned to extend the benefits of interoperability already achieved through Link Up Markets to an even wider community," Mermigidis says. "The CSDs are also keen to tap into the value-added services Swift is developing to address common industry problems, and support their market participants by extending the benefits of streamlined, standardized communications further into their domestic environments."

The CSDs belonging to the consortium are Oesterreichische Kontrollbank, Cyprus Stock Exchange, VP Securities, MCDR, Clearstream Banking Frankfurt, Hellenic Exchanges, VP Lux, VPS, Strate, Iberclear and SIX SIS.

The CSDs are keen to support market participants by extending the benefits of streamlined, standardised communications into their domestic environments.