You now have more opportunities to centralise your access to multiple European markets connected to T2S via our single CSD entry point.

Euroclear France has now established a direct link with Monte Titoli S.p.A., the Italian Central Securities Depositary (CSD), for Italian debt securities.

This link further strengthens our investor CSD offering and gives you increased opportunities to centralise your access to the TARGET2-Securities community.

With Euroclear France as your single CSD entry point to T2S markets, you can benefit from improved liquidity management and a range of collateral management, asset servicing and safekeeping services.

Our new link with Monte Titoli provides you with:

  • Delivery-Versus-Payment (DVP) settlement with counterparties in Monte Titoli, or any CSD that is an investor CSD in Monte Titoli
  • safekeeping and corporate actions processing for Italian debt securities
  • auto-collateralisation and triparty collateral management with a central bank or payment bank for Italian debt securities

Increasing efficiency in Europe

The European Central Bank’s T2S settlement platform plays an integral role in the ongoing effort to harmonise post-trade processes in Europe. We fully support this evolution and the opportunities it presents for the securities industry as a whole.

Since our ESES CSDs joined the T2S platform in September 2016, we have launched investor CSD services for:

  • Italian debt securities held in Monte Titoli
  • German securities held in Clearstream Banking Frankfurt 
  • Belgian government bonds held in the National Bank of Belgium – Securities Settlement System (NBB-SSS)

These direct links have been positively assessed by the Eurosystem and allow for cross-border mobilisation of eligible securities to collateralise Eurosystem credit operations.

We will continue to expand our investor CSD offer with direct links to other markets, including Spain on 18 September 2017 when Iberclear migrates to T2S as part of the final T2S Wave.

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