CSDs were concerned that T2S
would take business from them.
The VAN solution is intended to help T2S
participants to connect to the new pan-European securities settlement platform for the secure exchange of business information as per ISO 20022.
: In July 2006, the ECB looked at a proposed upgrade to TARGET2-Securities' (TARGET2, a similar upgrade for large-value cash payments, is already underway).
Banco di Credito Popolare, Banca Popolare dell'Alto Adige, Banca Popolare di Vicenza and Veneto Banca have signed a deal with BNP Paribas (BNPP.PA) to use its custody, settlement and liquidity services for T2S
The two firms have signed a deal to present a tangible asset servicing model for the market environment with T2S
. As per this new model, Clearstream would connect via its German central securities depository to the T2S
BNP Paribas Securities Services (BNPP.PA) has announced that it will become part of the Target 2 Securities (T2S
) settlement platform in Europe.
In addition, it leverages the network of links with CSDs participating in the TARGET2-Securities (T2S
) project, including for securities issued outside of Europe.'
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