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Fifteen additional central securities depositories sign the T2S framework agreement
In addition to a first group of nine CSDs which had already signed up for T2S in May 2012, another fifteen CSDs have now announced that they will join T2S, namely:
- AS Eesti Väärtpaberikeskus (Estonia);
- Central Depository AD (Bulgaria);
- Centrálny depozitár cenných papierov SR, a. s. (Slovakia);
- Cyprus Stock Exchange;
- Euroclear Belgium;
- Euroclear Finland Oy;
- Euroclear France;
- Euroclear Nederland;
- Interbolsa - Sociedade Gestora de Sistemas de Liquidação e de Sistemas Centralizados de Valores Mobiliários, S.A. (Portugal);
- KDD - Centralna klirinško depotna družba, d.d. (Slovenia);
- Központi Elszámolóház és Értéktár Zrt. - KELER (Hungary);
- Lietuvos centrinis vertybinių popierių depozitoriumas (Lithuania);
- Malta Stock Exchange;
- Oesterreichische Kontrollbank Aktiengesellschaft (Austria); and
- SIX SIS Ltd. (Switzerland).
They join a group that already includes: Bank of Greece Securities Settlement System (BOGS) , Clearstream Banking AG (Germany), Depozitarul Central S.A. (Romania), Iberclear - BME Group (Spain), LuxCSD S.A. (Luxembourg), Monte Titoli S.p.A. (Italy), National Bank of Belgium Securities Settlement System (NBB-SSS), VP LUX S.á.r.l. (Luxembourg) and VP Securities A/S (Denmark), which had already signed up in May 2012 in Frankfurt.
This brings to a total of 24 the number of CSDs participating in T2S, including almost all CSDs based in the euro area as well as six CSDs based outside the euro area.
T2S is one of the largest infrastructure projects launched by the Eurosystem so far. It will bring substantial benefits to the European post-trading industry by providing a single pan-European platform for securities settlement in central bank money. Today, the provision of post-trading services remains highly fragmented along national lines, and the consequences are higher costs for cross-border settlement, more risk and complicated procedures. As a common platform, T2S will reduce costs and increase efficiency by fostering harmonisation of technical and regulatory matters, and it will contribute to a more stable financial market.
More information is available in the ECB website, www.ecb.europa.eu
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