20 January 2017
visit http://www.wolterskluwerfs.com

Swift, SIA and Colt win T2S connectivity licenses

09 January 2012  |  10641 views  |  0 EU flag

Europe's central banks have awarded the two Target2Securities (T2S) connectivity licenses to Swift and a consortium made up of SIA and Colt.

T2S, now slated to go live in mid-2015 following a series of delays, is the European Central Bank's controversial plan to streamline the continent's securities settlement structure.

In July Banca d'Italia, acting as the contracting authority with a mandate from the Eurosystem central banks, invited tenders for the two licences to provide connectivity services for the project.

The seven year contracts require the winners to design and build the network, linking central securities depositories with the European Central Bank, and then let them charge fees to users.

The licenses have now been given to inter-bank messaging co-operative Swift and partners Colt, a telecoms firm, and Italian payment processor SIA. T2S actors - CSDs, central banks, and their customers - who want to connect to to the platform via a "value-added connection" will have to select one of these two providers after negotiating terms.

The ambitious T2S project has been dogged by problems since it was first mooted in 2006. After being forced to delay the go-live date again, in November the ECB tried to build momentum by outlining plans to offer 'early bird' incentives to central securities depositories that sign up, dangling significant price cuts to CSDs that sign up to a newly minted Framework Agreement by this April.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Banking heads 'hugely disappointed' by T2S delay

Banking heads 'hugely disappointed' by T2S delay

21 September 2011  |  9347 views  |  0 comments
ECB calls on recalcitrant CSDs to take efficient approach to T2S integration

ECB calls on recalcitrant CSDs to take efficient approach to T2S integration

21 September 2011  |  8885 views  |  0 comments
T2S delayed again

T2S delayed again

20 September 2011  |  9163 views  |  1 comments
ECB sets T2S framework agreement deadline; UK looks to opt out

ECB sets T2S framework agreement deadline; UK looks to opt out

22 July 2011  |  8650 views  |  0 comments
T2S connectivity licences come up for grabs

T2S connectivity licences come up for grabs

15 July 2011  |  8089 views  |  1 comments
ECB settles on T2S pricing

ECB settles on T2S pricing

19 November 2010  |  13136 views  |  0 comments
ECB confirms delay to T2S

ECB confirms delay to T2S

14 April 2010  |  12829 views  |  0 comments
ECB launches T2S settlement harmonisation project

ECB launches T2S settlement harmonisation project

17 July 2008  |  10030 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
http://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit contisgroup.comVisit capgemini.com

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
15249 views comments | 85 tweets | 107 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
12287 views comments | 48 tweets | 42 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
10532 views comments | 30 tweets | 20 linkedin
hands typing furiouslyBlockchain: Time To Get Your Feet Wet
7268 views 0 | 23 tweets | 9 linkedin
RBI told the time is right to digitise the RupeeRBI told the time is right to digitise the...
7226 views comments | 14 tweets | 12 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job