BNY Mellon CSD to Begin Securities Settlement in Luxembourg

luxembourg-garden
BNY Mellon CSD recognised by the Luxembourg Stock Exchange to operate as a securities settlement system.

Last year, BNY Mellon CSD signed a framework agreement to comply with the Target2–Securities (T2S) regime and outsource settlement to the T2S settlement platform, which is slated to go live in 2015.

"This is a significant step in building out our CSD entity, as it gives us the ability to provide straight-through processing for new Luxembourg-listed issues of securities and funds," says Chris Prior-Willeard, CEO of BNY Mellon CSD. "That new ability and our recognized securities settlement system status are set to become ever more important as new regulations impact central counterparties (CCPs), Ucits and other regulated entities."

BNY Mellon was the first global custodian to launch a separate CSD entity, incorporated as a non-bank subsidiary of BNY Mellon Corp.

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 copy this content. Please contact info@waterstechnology.com to find out more.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here