T2S is the infrastructure project launched by the European Central Bank in 2008. Its aim is to create a single pan-European platform for securities settlement in central bank money, harmonising post trade procedures and improving efficiency in the European Capital Market. Monte Titoli, with €3,400 billion of assets under custody, is the largest Central Depository System joining T2S in the first wave.

Through T2S, Monte Titoli will offer its customers the opportunity to settle domestic and European securities into a single client’s central bank money cash account, creating an automatic pooling and netting effect that will reduce cost of funding and risks. Clients will benefit from reduced settlement fees and from the opportunity to optimise end of day and intra-day liquidity, capital requirements and credit lines consumption for settlement.

As previously announced, Monte Titoli is providing GlobeSettle, LSEG’s CSD based in Luxembourg, with technology, operational services and immediate access to T2S.

Mauro Dognini, CEO of Monte Titoli said:

“Monte Titoli has been a firm supporter of the T2S project from the outset. We are delighted to now be live on the platform, which will help harmonise the European cross-border settlement environment. The Italian market will account for around 90% of volumes in the first wave of T2S and represents an opportunity for Monte Titoli to expand its offering, delivering solutions designed to improve efficiencies and increase choice for customers”.