SIA-Colt Wins Monte Titoli T2S Connection Mandate
Monte Titoli, owned by the London Stock Exchange Group (LSE), will connect to T2S in June 2015, being the largest CSD to do so in the first wave. T2S is a project that will settle most securities in central bank money within the Eurozone. Overseen by the European Central Bank (ECB), it will be managed by the Spanish, French, Italian and German central banks.
SIA-Colt, along with Swift, have been awarded network service provider licenses to connect firms to T2S. Both have recently completed the European Network Acceptance Test, seen as a critical milestone in the project.
"With this significant success within T2S, we are proud to strengthen our collaboration with SIA," says Hugh Cumberland, financial services solutions manager at Colt. "Colt's consolidated experience in the financial industry, its international network and long-time relationship with LSE, have been fundamental to the connection of Monte Titoli to T2S."
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