Monte Titoli, the Italian central securities depository, has selected SwiftNet services as a messaging solution for its new Express II clearing, settlement and custody platform.
Monte Titoli's decision to implement Swift's new interactive messaging service follows Banca d'Italia's selection of SwiftNet as the exclusive provider for its new real-time gross settlement system.
Giovanni Sabatini, CEO of Monte Titoli says: "In our opinion, developing and implementing system interoperability is the first step to creating a pan-European marketplace. Using an internationally recognised messaging solution such as SwiftNet, puts us a step ahead in this strategic direction."
Access to the Express II platform via SwiftNet services will be available when the new platform is launched in 2H 2003.