SIA, Colt win Deutsche Bundesbank T2S tender

Monday 21 April 2014 09:12 CET | News

SIA and Colt, a provider of financial services, have gained a tender to connect Deutsche Bundesbank to TARGET2-Securities (T2S), a centralized European platform that facilitates settlement of domestic and cross-border securities transactions.

The first phase of migration to T2S is scheduled to take place in June 2015. SIA and Colt expect the majority of the transactions generated by banks and central depositories (CSDs) to take part in the process.

T2S is one of the initiatives for the creation of the single European financial market following the Euro, TARGET2, Single Euro Payments Area (SEPA) and Payment Services Directive (PSD).

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Keywords: SIA, Colt, Deutsche Bundesbank, financial services, cross-borber transactions
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce