Hungarian CSD to Connect to T2S via SIA and Colt

Tech vendors SIA and Colt will partner up to provide connectivity for Hungary’s central securities depositary (CSD), KELER, to TARGET2 Securities (T2S), Europe’s incoming settlement platform.

KELER will migrate to T2S in the third wave, planned for September 2016, and will be among the first CSD’s in the Central and Eastern European region to access the platform directly.

SIA and Colt have completed the implementation of their connectivity solution, which will enable KELER to commence the functional test phase in line with their migration framework.

SIA and Colt’s value added network infrastructure enables CSDs, central banks in the Eurosystem and leading European banks to connect to the new platform for the settlement of securities transactions.