The European Central Bank (ECB) has turned to SIA, in partnership with Colt, for its connection to TARGET2-Securities (T2S), the European platform for the settlement of domestic and cross-border securities transactions.
The ECB is expected to migrate to SIA and Colt’s value-added network infrastructure in June this year; the two companies will also provide the ECB with a message processing solution based on INTERCOPE’s BOX Messaging Hub, facilitating the integration of ECB’s application software to the TARGET2-Securities central platform.
SIA and Colt were awarded one of the two licenses for T2S by the ECB, demonstrating their leadership in the financial services sector, highly reliable network and service presence across Europe and proven experience in the supply and management of ‘mission critical’ solutions.
Since T2S went live last June, SIA and Colt have handled a monthly average of 11 million messages related to securities transactions.
“This remarkable success highlights that SIA and Colt stand out for their technological capabilities in terms of the reliability, solidity and security of their network solutions at international level. Furthermore, it confirms that the market of secure messaging services and infrastructure for the European financial sector is open and competitive”, commented Andrea Galeazzi, SIA’s network services director.