London Stock Exchange Group (LSE Group) today announces that Monte Titoli, the leading European Central Securities Depositary (CSD) and provider of financial settlement services, has launched a new DVP service with the Austrian CSD Oesterreichische Kontrollbank (OeKB).
This new service widens the offering of cross-border services available to Monte Titoli's clients.
The initiative, effective immediately, builds on the existing link with the OeKB, enriching it with the Delivery-Versus-Payment functionality. The launch brings the total number of DVP links to 15, allowing Monte Titoli clients to benefit from increasingly harmonised settlement of their cross-border trading activity within Europe.
Monte Titoli provides cross-border settlement and custody services for over 100 banks in these markets.
Other central CSDs connected to Monte Titoli include Euroclear France, Euroclear Bank, Euroclear UK&Ireland, Clearstream Banking Frankfurt and Luxembourg, Iberclear and SIX-SIS.
With assets under custody of €3.2 trillion, Monte Titoli is a committed champion of the T2S project and remains the only confirmed major first-wave CSD participant to join T2S.