London
16 December 2016
Reporter: Drew Nicol
BNY Mellon uses T2S for Italian CSD link
BNY Mellon has partnered with Italy’s central securities depositary (CSD) Monte Titoli through its Target2-Securities (T2S) connection.

The bank will leverage its status as a directly connected participant to T2S to settle will settle transactions in listed securities, such as equities and fixed income with Monte Titoli.

Previously, BNY Mellon settled transaction in the Italian market through sub-custodian services.

“We are delighted that BNY Mellon, one of the world’s largest investment services companies, has become a participant of Monte Titoli,” said Mauro Dognini, chief executive of Monte Titoli.

“In doing so, BNY Mellon and its clients will be able to fully benefit from the implementation of T2S using Monte Titoli for the provision of settlement, asset and fiscal services, which will help improve operational efficiency and reduce risk.”

Tom Casteleyn, head of product management for custody, cash and foreign exchange at BNY Mellon, said: “Our connection to T2S will help us streamline back-office operations and reduce risk by offering our clients direct access to central bank money.”

“Our direct accounts with Monte Titoli will enable us to provide clients with deadlines that are closer to market cut-offs, whilst improving our asset servicing capabilities.”

More clearing and settlement news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SEC to move US to T+2
23 March 2017 | Washington DC | Reporter: Drew Nicol
Members of the SEC’s industry steering committee, including DTCC and SIFMA, were quick to praise the commission on the amendment
CloudMargin bring Nasdaq Clearing on board collateral platform
13 March 2017 | London | Reporter: Drew Nicol
CloudMargin has secured Nasdaq Clearing as a user of its web-based collateral and margin management solution
DTCC’s STP suite sees record-breaking 2016
08 February 2017 | London | Reporter: Stephanie Palmer
The Depository Trust & Clearing Corporation suite of institutional straight-through processing products processed a record number of almost 1 billion trades in 2016
Clearstream migrates to T2S
06 February 2017 | Frankfurt | Reporter: Mark Dugdale
Clearstream Banking Frankfurt has confirmed that it successfully migrated to the Target2-Securities platform over the weekend...
SIX x-clear extends to Nordics
19 January 2017 | Copenhagen | Reporter: Stephanie Palmer
SIX x-clear, the clearing arm of SIX Securities Services, has extended its services to the Nasdaq Nordic cash markets, offering an interoperable clearing solution for Denmark, Finland and Sweden...
SwapClear reveals record-breaking 2016
09 January 2017 | London | Reporter: Stephanie Palmer
LCH’s SwapClear service saw a record high in interest rate derivatives cleared in 2016, processing a total of over $665 trillion in 3.8 million trades...
Pilot complete for London blockchain bullion service
20 December 2016 | London | Reporter: Stephanie Palmer
Euroclear and Paxos have completed a pilot for their blockchain settlement service for the London bullion market...
More clearing and settlement news