Romanian and Italian CSDs join first T2S migration wave
We are happy to announce that two further CSDs have committed to joining T2S in its first migration wave. Following the announcement made by BOGS, the CSD for Greek government securities, in May 2010, two other CSDs have announced that they also intend to join T2S in its first migration wave, namely Monte Titoli (Italy), part of the London Stock Exchange Group, and Depozitarul Central S.A. (Romania), part of the Bucharest Stock Exchange Group.
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Jean-Michel Godeffroy, Chairman of the T2S Programme Board, says: "We are very pleased that Monte Titoli and Depozitarul Central S.A have now also committed to joining T2S in its first migration wave. Monte Titoli will bring to T2S a strong heritage of efficient and secure post-trade services, and the involvement of Depozitarul Central S.A. will extend the boundaries of T2S beyond those of the euro area from the very start".
Kevin Milne, Director of Post-Trade Services at the London Stock Exchange Group, and Adriana Tanasoiu, CEO of Depozitarul Central, were united in expressing their delight to have been selected to partner the ECB in this important development. Joining T2S would be, they both declared, "great news" for their respective customers, enabling them to settle all of their euro area and other T2S securities in central bank money.
The T2S migration phase will be composed of three migration waves and one contingency wave. The first migration wave is scheduled for September 2014.