Hungarian CSD to Connect to T2S with SIA and Colt
Keler will be among the first CSDs in Central and Eastern Europe to connect directly to the ECB platform.
![Danube in Hungary Danube in Hungary](/sites/default/files/styles/landscape_750_463/public/import/IMG/140/168140/hungary-danube-580x358.jpg.webp?itok=Xqt5rnxQ)
The two vendors have partnered to deliver mission-critical solutions for the ECB project.
The CSD, 53.33 percent owned by the Central Bank of Hungary (CBH) and 46.67 percent owned by the Budapest Stock Exchange (BSE), will migrate to the platform through the vendors' value-added network (VAN) in the third phase of the migration framework due to start in September 2016.
"I am convinced that we have selected a network solution that best suits the needs of the Keler Group, and thereby we enhance our capabilities and offering to meet the deadline for T2S settlement as well," says Gyorgy Dudas, CEO of Keler. "With the SIA-Colt support we will offer regional investor CSD services, including standardized T2S settlements, safekeeping and optional ancillary solutions. Our safekeeping in Central-Eastern Europe will be provided by direct CSD links, while our asset and local currency services will be supported by professional partners."
The SIA and Colt connectivity solution will allow the CSD to access the settlement system while guaranteeing total security and confidentiality in the transmission of data, along with the highest standards of reliability, performance and service continuity.
THE ECB awarded one of the two value-added network service provider licenses for T2S to SIA and Colt. The two vendors have already helped Deutsche Bundesbank during the first wave of migrations to T2S.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
SocGen pushes data, analytics use cases for SG Markets
The bank is letting a handful of clients experiment with its proprietary data and models to inform their research.
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
AI could cut time for money laundering checks by 99%
Leading crypto exchange rolling out large language model for enhanced due diligence checks.
Standard Chartered keeps faith with quantum experimentation
The bank is aiming to future-proof itself with the ability to adopt new technology at an early stage.
Waters Wrap: CME, Google and the pursuit of ultra-low-latency trading
CME Group and Google have announced Aurora, Illinois, as the location for the exchange’s new co-location facility. Anthony explains why this is more than just the next phase of the two companies’ originally announced project.
This Week: Genesis/Interop.io; S&P Global; Finos/OS-Climate and more
A summary of the latest financial technology news.
GenAI: US Fed reveals its five use cases
Internal sandbox used to assess viability and risks; coding and content generation on the agenda.
Natixis refines in-house interoperability model
The French asset manager has refined its canonical data model over the last decade, as the interoperability movement continues to evolve.