BNY Mellon directly connects to Monte Titoli on T2S
Connection will provide deadlines closer to market cut-offs and reduce risk.
BNY Mellon has migrated clients’ assets to direct accounts with Monte Titoli using its connection to TARGET2-Securities (T2S). As a Directly Connected Participant (DCP) to T2S, BNY Mellon will settle transactions in listed securities, such as equities and fixed income with Monte Titoli.
BNY Mellon, a global leader in investment management and investment services, will also provide clients with portfolio servicing activities, including corporate actions, income processing, tax and proxy voting. Previously BNY Mellon settled transactions in the Italian market through sub-custodian services.
Monte Titoli is the authorised Central Securities Depositary (CSD) for centralised administration, settlement and ancillary services in the Italian market.
Mauro Dognini, Chief Executive of Monte Titoli:
“We are delighted that BNY Mellon, one of the world’s largest investment services companies, has become a participant of Monte Titoli. In doing so, BNY Mellon and its clients will be able to fully benefit from the implementation of T2S using Monte Titoli for the provision of settlement, asset and fiscal services, which will help improve operational efficiency and reduce risk. This achievement represents a key step in Monte Titoli's strategy to expand its service offering and client base and confirms its capability to support international clients.”