Monte Titoli to lead adoption of T2S

  • LSEG's CSD approved by the ECB to lead first wave of project

London Stock Exchange Group announced today that its Central Securities Depository, Monte Titoli, has been approved by the European Central Bank ("ECB") to participate in the first wave of implementation of Target2-Securities ("T2S").

Monte Titoli is currently the largest and only Eurozone full-service participant in the first wave of implementation, and is therefore uniquely placed to serve new and existing customers in this important development in Europe's financial infrastructure.

Kevin Milne, Vice Chairman of Monte Titoli and Director of Post Trade at London Stock Exchange Group, said:

"We are delighted to have been selected to partner the ECB in this important development.  This is great news for Monte Titoli's customers, giving them the ability to settle all of their Eurozone and other T2S securities in central bank money.  Monte Titoli remains at the forefront of industry development, providing its customers with seamless access and solutions to critical regulatory and infrastructure developments such as T2S."

Jean-Michel Godeffroy, Chairman of the T2S Programme Board of the ECB, said:

"We are delighted that Monte Titoli has decided to join T2S in its first migration wave. Monte Titoli has realised at a very early stage how much it could benefit from T2S in the new European environment. It will bring to T2S a strong tradition of efficient and secure post-trade services".

T2S is the largest infrastructure project undertaken by the Eurosystem since the launch of the Euro itself and will improve Europe's post-trading infrastructure.  It is scheduled to go live on 22 September 2014.

For more detail, see the ECB website:
http://www.ecb.europa.eu/paym/t2s/html/index.en.html.

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For further information, please contact:

Alastair Fairbrother 
+44 (0)20 7797 1222
Luca Grassis 
+39 02 72426 212
Our T2S website: http://t2s.londonstockexchangegroup.com

                                                           

Notes to editors:

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 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 an extensive range of real-time and reference data products and market-leading post-trade services. 

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at http://www.londonstockexchangegroup.com/.

About 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, CCPs and trading venues and offers its services to more than 2,000 issuers. Monte Titoli S.p.Ais owned by the international diversified exchange business, London Stock Exchange Group.