Switzerland's SIX Securities Services confirms that it has gone live with Target2-Securities (T2S), the European Central Bank's settlement platform for securities transactions in central bank money. Conceived to harmonise securities processing within the eurozone, T2S launched as planned today (Monday June 22 2015).
SIX Securities Services is part of the first migration wave and now offers direct access to T2S. The others in the first wave are Bank of Greece Securities Settlement System (BOGS), Depozitarul Central (Romania) and Malta Stock Exchange.
SIX Securities Services is thus the first non-EU central securities depositary to offer access to the platform. It says this achievement is the result of years of concept design, planning and development work, followed by extensive testing in recent months.
Thomas Zeeb, Division CEO SIX Securities Services, comments: "Throughout the project, SIX Securities Services has represented the interests of the Swiss financial centre. Our clients have been involved in the change processes and implementation of T2S from day one. Being part of T2S is part of our continuing strategy to enhance the Swiss value chain."
All remaining European central securities depositories are due to migrate to T2S in three further waves by February 2017.