19 February 2018
Visit www.avoka.com

Swift, SIA and Colt win T2S connectivity licenses

09 January 2012  |  10962 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  |  9639 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  |  9194 views  |  0 comments
T2S delayed again

T2S delayed again

20 September 2011  |  10109 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  |  8911 views  |  0 comments
T2S connectivity licences come up for grabs

T2S connectivity licences come up for grabs

15 July 2011  |  8341 views  |  1 comments
ECB settles on T2S pricing

ECB settles on T2S pricing

19 November 2010  |  13395 views  |  0 comments
ECB confirms delay to T2S

ECB confirms delay to T2S

14 April 2010  |  13974 views  |  0 comments
ECB launches T2S settlement harmonisation project

ECB launches T2S settlement harmonisation project

17 July 2008  |  11906 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsVisit https://www.capgemini.comVisit www.vasco.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11513 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9072 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8929 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8821 views comments | 15 tweets | 43 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7463 views comments | 12 tweets | 10 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job