Iberclear to launch cross-border custody and settlement

New cross-border custody and settlement service to act as a single gateway to TARGET2-Securities (T2S) and international markets.

By Jonathan Watkins
The Spanish Central Securities Depository will launch a cross-border custody and settlement service to act as a single gateway to TARGET2-Securities (T2S) and international markets.

Iberclear’s Cross-Border Services (CBS) will go live on 17 December.

The Spanish CSD said the service will at first be offered to markets in Germany, France, Italy, The Netherlands and Austria, with Portugal envisaged to be integrated in 2019.

The service will also feature “value-added services and increase self-collaterisation capabilities” with T2S.

“This new solution offers opportunities for clients and the broader Spanish investment community,” said Jesús Benito, CEO of Iberclear. “It represents a step forward for Iberclear in a new strategic path of expansion of the service range following its successful migration to T2S,” said Jesús Benito, CEO of Iberclear.”

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