Euroclear Selects SWIFT to Connect to T2S in 2016

Euroclear has chosen SWIFT’s Value Added Network (VAN) to connect T2S when it begins migrating to the platform in 2016.

The contract win with Euroclear adds to SWIFT’s growing list of Europe’s largest CSDs that are choosing to connect to T2S through SWIFT. Other CSDs such as Cleartstream and Iberclear announced last week that they would use SWIFT. CSDs have the option of connecting to T2S through either SWIFT, or a consortium between payments vendor SIA and Colt, a telecom company.

Euroclear Belgium, France and Netherlands will migrate to T2S in wave 2 in March 2016, and Euroclear Finland will go in wave 4 in February 2017.