23 July 2016
Find out more

Euroclear to join T2S project

12 June 2012  |  7704 views  |  1 Euroclear

The European Central Bank's plans to develop a common framework for securities settlement across Europe have been boosted by the agreement of three Euroclear central depositories in Belgium, France and The Netherlands to participate in the scheme.

In May, the ECB announced that it had enticed nine CSDs across Europe to join the T2S project, offering significant price concessions for early registration.

As participant fees for using T2S are dependent upon volumes, the late arrival of Euroclear is a promising development. The three CSDs in the Euroclear group settled EUR87 trillion of securities transactions in 2011, representing 31 million transactions.

Joël Mérère, chairman of the boards of the three Euroclear CSDs states: "The three Euroclear group central securities depositories are reflecting local market sentiment by taking the decision to sign the T2S Framework Agreement. As the first and only group of markets in continental Europe to have consolidated and harmonised transaction settlement and custody services on a shared platform, we appreciate the benefits of large-scale processing consolidation and harmonisation that T2S has the capacity to provide."

Comments: (1)

A Finextra member
A Finextra member | 13 June, 2012, 07:38

This is great news and opens the door for UK entry. This will debated at the next Post Trade Forum on T2S and T+2 settlement hosted by the Stock Exchange on the 26th June

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
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

ECB signs nine depositories to T2S project

ECB signs nine depositories to T2S project

08 May 2012  |  7291 views  |  1 comments
Swift, SIA and Colt win T2S connectivity licenses

Swift, SIA and Colt win T2S connectivity licenses

09 January 2012  |  10427 views  |  0 comments
Banking heads 'hugely disappointed' by T2S delay

Banking heads 'hugely disappointed' by T2S delay

21 September 2011  |  9161 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  |  8732 views  |  0 comments
T2S delayed again

T2S delayed again

20 September 2011  |  9001 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  |  8514 views  |  0 comments
T2S connectivity licences come up for grabs

T2S connectivity licences come up for grabs

15 July 2011  |  7965 views  |  1 comments
ECB settles on T2S pricing

ECB settles on T2S pricing

19 November 2010  |  13014 views  |  0 comments
ECB to set back T2S timetable to beyond 2013

ECB to set back T2S timetable to beyond 2013

15 January 2010  |  14617 views  |  0 comments
T2S spat turns up the heat at Sibos

T2S spat turns up the heat at Sibos

15 September 2009  |  9779 views  |  1 comments
ECB launches T2S settlement harmonisation project

ECB launches T2S settlement harmonisation project

17 July 2008  |  9874 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit www.abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
7966 views 14 comments | 32 tweets | 36 linkedin
hands typing furiouslyWhat Every FinTech CEO Should Know About R...
7808 views 0 | 14 tweets | 8 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
7662 views 3 | 19 tweets | 6 linkedin
Santander doubles down on fintech fundSantander doubles down on fintech fund
7557 views comments | 22 tweets | 28 linkedin
Brexit-scarred London fintech startups enquire about moving to BerlinBrexit-scarred London fintech startups enq...
7457 views comments | 16 tweets | 16 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job