Link Up Markets goes live
Link Up Markets, the joint venture between 8 European Central Securities Depositories (CSDs) representing 50% of European securities transactions, successfully launched on March 30, allowing for easy implementation of links between Central Securities Depositories (CSDs).
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Clearstream Banking Frankfurt (Germany), OeKB (Austria), SIX SIS (Switzerland) and VP (Denmark) started connectivity on Monday. Connectivity of the other CSDs will follow soon.
The Link Up Markets infrastructure - delivered by Clearstream Services and based on two existing standard products of Tata Consultancy Services - was implemented within only 8 months and for investments below Euro 10 millions.
Tomas Kindler, Managing Director of Link Up Markets, said "As promised Link Up Markets is successfully launched on time, only 12 months after the announcement of the joint venture. This achievement underpins our key principle that leveraging existing solutions whenever possible will deliver efficiencies and cost-benefits for the European securities market within the shortest timeframe."