Joining T2S means that Euroclear Finland will outsource its settlement transaction processing to T2S. When operating in the T2S environment, clients of the Finnish CSD will continue to have accounts operated directly by Euroclear Finland and will continue to receive the CSD's full range of custody and related services. The migration date, required changes to market practices and fees for connecting to and using T2S will be determined through market consultations.

Yannic Weber, Chief Executive Officer of Euroclear Finland, commented: "Following extensive consultation with market stakeholders and regulators, our decision to sign up to T2S reflects the choice of our clients and the wider Finnish market. There is clear interest in Finland's capital markets to be part of the greater push for European economic progress and harmonisation."

Hanna Vainio, Deputy Chief Executive Officer of Euroclear Finland said: "T2S can serve as a catalyst for greater harmonisation and standardisation of post-trade processes. Outsourcing our settlement activity to T2S will require technical changes and adaptations, both here at Euroclear Finland and also by our participants, issuer clients and other market stakeholders. We see these changes as an opportunity to improve our current services and offer our clients access to more foreign investment possibilities."

Euroclear Finland's decision to sign the T2S Framework Agreement comes shortly after the announcement that three other Euroclear CSDs operating in the euro-zone, namely Euroclear Belgium, Euroclear France and Euroclear Nederland, will also outsource settlement transaction processing to T2S.

Euroclear Sweden and Euroclear UK & Ireland have decided not to join T2S at this stage.