On 18 September 2017 the final migration wave of Target2- Securities (T2S) was successfully implemented connecting Iberclear- the Spanish Central Securities Depository, to the Eurosystem’s T2S securities settlement platform.
September 18 represented an important milestone also for Banco Sabadell, one of the main Spanish banks, who trusted TAS Group, a leader in financial technology solutions, to complete its migration to T2S in Direct Connection for cash and with advanced liquidity features thanks to TAS Aquarius, the integrated platform to improve cash and liquidity management over Target2, T2S and Correspondent Banking.
TAS Group has been at the core of the T2S implementation from the very beginning: through its experience in liquidity management with over 14 customers successfully migrated to T2S, TAS Group brings to Banco Sabadell experience and a well-proven technological solution.
TAS Aquarius ensures reconciliation of messages between Cash and Securities, implementation of ISO20022 Standard for T2S and several value-added features such as intraday forecast of DCA Balance, Collateral (on-Stock/on-Flow) positions and Automated Liquidity transfers between DCA and RTGS accounts and Automated Standing Orders.
“We are thankful to Banco Sabadell for trusting TAS Group with this important milestone. Thanks to the experience of our local team in Wave 1 (Italy) and 3 (Germany) TAS Group has been able to accompany Banco Sabadell in the processes and the decisions to be taken”, said Olivier Sery General Manager Iberia. “TAS Aquarius software with over 14 installations is a mature family. We continue to deploy a variety of modules such as Liquidity Management, BCBS 248, Automatic Liquidity Transfer, Stress testing, Correspondent and more”.