Societe Generale Securities Services (SGSS), is to widen the scope of its implementation of direct connectivity to the Target-2 Securities (T2S) platform.
When the first wave of T2S is launched in Italy and Switzerland in June 2015, SGSS, will already have direct connectivity for the settlement of Italian and Swiss securities.
It intends to implement direct connectivity to T2S for all five markets which will join T2S in the second wave, scheduled for the end of March 2016: Euroclear’s central securities depositories in France, Belgium and the Netherlands; Interbolsa in Portugal; and NBB-SSS in Belgium for fixed income.
SGSS will, in addition, act as payment bank in T2S, providing cash to central securities depository participants to support the settlement of securities.
By investing in direct connectivity to multiple markets in T2S, SGSS will harmonise and rationalise its processing model and optimise the management of liquidity that underpins the provision of a wide range of top-tier securities services.
“Providing full market coverage as a directly connected participant during the second wave demonstrates our readiness to accompany our clients in reaching their objectives—whether they are targeting a full custody package or selected unbundled services,” said Guillaume Heraud, global head of development for financial institutions and brokers at SGSS.
“SGSS is strengthening its one-stop-shop value proposition and taking it to a new level with access to clearing, custody, asset servicing only and liquidity management services across the Euronext zone.”
