SWIFT says that Monte Titoli, the Italian CSD, has selected SWIFTNet services as a messaging solution for its new Express II clearing, settlement and custody platform.
“After Banca d’Italia’s decision to use SWIFTNet services exclusively for its new RTGS system, Monte Titoli’s decision will make the SWIFTNet `single window’ concept a reality for players active in the Italian market,” says Isabelle Olivier, SWIFT’s Securities Business Manager for Italy. “SWIFTNet is part of our vision for serving the Securities Industry as an ‘open system open to other systems’ based on interoperable solutions.”
“We consider offering access via SWIFTNet to be of strategic importance,” adds Giovanni Sabatini, CEO of Monte Titoli. “SWIFTNet is part of our vision for serving the Securities Industry as an ‘open system open to other systems’ based on interoperable solutions. 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.