Monte Titoli signs ECB T2S framework agreement

  • Reaffirms long-standing commitment to participate in first wave of T2S
  • Supports T2S objectives to harmonise European securities settlement infrastructure
  • Underpins continuing operation as competitive, neutral settlement and asset servicing provider

London Stock Exchange Group (LSE Group) today announces that Monte Titoli has signed the European Central Bank’s (ECB) T2S Framework Agreement at a ceremony in Frankfurt. The signing ceremony was hosted by Mario Draghi, ECB President and Peter Praet, member of ECB Executive Board responsible for T2S.

Monte Titoli has been a committed champion of the T2S project from the outset and remains the only confirmed major first-wave CSD participant to join T2S. The Group is actively engaged with regulators and customers to ensure that T2S is ready to be introduced in 2015. Monte Titoli is committed to increasing efficiency in the European securities settlement infrastructure, providing harmonised, competitive processes to help reduce cross-border settlement fees.

Kevin Milne, Director of Post-Trade Services at LSEG said:

“LSE Group is firmly committed to delivering efficient and competitive post-trade services covering pre-settlement, settlement, custody and asset servicing. The signing of the T2S Framework Agreement is the culmination of Monte Titoli’s long-standing involvement in the project which will help reduce participants risk and costs related to cross-border settlement.”

Paolo Cittadini, CEO, Monte Titoli said:

“We are delighted to have signed the ECB’s T2S Framework Agreement. The T2S project will bring improved market efficiencies and harmonised practices and processes to the European market, reducing costs for clients and the financial community across the region. Monte Titoli has been a firm supporter of the T2S project from the outset and we will continue to work closely with regulators and our customers to ensure a timely introduction in 2015, when the first wave will go live.”

Additional information, comment and updates on progress can be found on our dedicated T2S microsite http://t2s.londonstockexchangegroup.com/

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Notes to editors:

Monte Titoli S.p.A

Monte Titoli is a leading provider of efficient and secure financial market post-trade services, across pre-settlement, settlement, custody and asset services. Monte Titoli operates a sophisticated platform providing on-exchange and OTC trade matching and confirmation as well as offering a highly efficient European settlement system and custody service for safe keeping across asset classes. Monte Titoli has an extensive international customer base of over 400 banks and brokers, CCP’s and trading venues and offers its services to more than 2,000 issuers. Monte Titoli S.p.A is owned by the international diversified exchange business, London Stock Exchange Group.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.

The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access and an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages over 200,000 equity, bond and alternative asset class indices.

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,900 people.

Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com