HSBC in SWIFT T2S VAN

HSBC in Germany is to use SWIFT’s Value Added Network (VAN) solution to connect to Target2-Securities (T2S).  SWIFT says that VAN enables T2S participants to connect to the new pan-European securities settlement platform for the secure exchange of business information in ISO 20022, offering the highest resilience, with minimal risk and cost.

HSBC joins a prominent number of banks and central securities depositories that have now signed with SWIFT for T2S connectivity. These include BNP Paribas Securities Services, Citi, Deutsche Bank, Societe Generale Securities Services, Bank of Greece Securities Settlement System, Clearstream, Depozitarul Central, Euroclear, Iberclear, Interbolsa, KDD Central Securities Clearing Corporation, Malta Stock Exchange and SIX SIS.