SGSS has selected Diamis, a joint venture between Atos and Steria, for providing a T2S liquidity management solution in order to support Target2-Securities deployment across entities throughout Europe.
CRISTAL will support SGSS’ Payment Bank operations in T2S, managing proprietary cash accounts and auto-collateralisation with Central Banks as well as clients’ cash accounts and intraday credit positions.
CRISTAL is designed to accommodate any organisation of proprietary accounts and their funding in T2S. It provides application-to-application connection to T2S in order to secure management of liquidity transfers as well as monitoring of cash accounts and auto-collateralisation. It enables intraday reimbursement of auto-collateralisation in order to prevent unexpected funding requirement at the close of business.
Also, CRISTAL supports all aspects of client credit in T2S, ranging from valuation of collateral, monitoring of positions and limits as well as management of client collateralisation reimbursement during the day or at the end of day.
Finally, CRISTAL also features comprehensive audit trail and will provide SGSS with the required reporting in respect of Basle 3 Monitoring tools for intraday liquidity risk.
Anne-France Demarolle, Head of Liquidity Management at SGSS said: “CRISTAL enables SGSS to deliver flexible T2S cash services to our customers along with sound management of our intraday liquidity in order to maximise pooling and funding benefits from T2S while securing our daily close of business. By entrusting a focused company such as Diamis with cash issues arising with T2S, we are able to dedicate most of our efforts and resources to enhancing our services for securities settlement.”
Olivier Hache, General Manager of Diamis said: “As an extension of Diamis’ long term partnership with Societe Generale group, we are proud that SGSS -one of the top ten custodians in the world- is among the early adopters of our CRISTAL liquidity management solution for Target2-Securities. This success with SGSS validates the concept of our solution which will benefit all banks who want to ensure secure intraday liquidity risk management in the future second largest market infrastructure in the euro.”