Monte Titoli to lead adoption of T2S

Jan 19 2011 - 15:20

Monte Titoli to lead adoption of T2S

- LSEG’s CSD approved by the ECB to lead first wave of project

London Stock Exchange Group announced today that its Central Securities Depository, Monte Titoli, has been approved by the European Central Bank (“ECB”) to participate in the first wave of implementation of Target2-Securities (“T2S”).

Monte Titoli is currently the largest and only Eurozone full-service participant in the first wave of implementation, and is therefore uniquely placed to serve new and existing customers in this important development in Europe’s financial infrastructure.

Kevin Milne, Vice Chairman of Monte Titoli and Director of Post Trade at London Stock Exchange Group, said:
“We are delighted to have been selected to partner the ECB in this important development. This is great news for Monte Titoli’s customers, giving them the ability to settle all of their Eurozone and other T2S securities in central bank money. Monte Titoli remains at the forefront of industry development, providing its customers with seamless access and solutions to critical regulatory and infrastructure developments such as T2S.”

Jean-Michel Godeffroy, Chairman of the T2S Programme Board of the ECB, said:
“We are delighted that Monte Titoli has decided to join T2S in its first migration wave. Monte Titoli has realised at a very early stage how much it could benefit from T2S in the new European environment. It will bring to T2S a strong tradition of efficient and secure post-trade services”.

T2S is the largest infrastructure project undertaken by the Eurosystem since the launch of the Euro itself and will improve Europe’s post-trading infrastructure. It is scheduled to go live on 22 September 2014.

For more detail, see the ECB website:

http://www.ecb.europa.eu/paym/t2s/html/index.en.html.

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For further information, please contact:

Alastair Fairbrother +44 (0)20 7797 1222

Luca Grassis +39 02 72426 212

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