Société Générale Securities Services (SGSS) has expanded its implementation plans for direct connectivity to the TARGET2-Securities (T2S) platform, by working toward connecting to all five markets joining in the second wave of T2S.
In June, SGSS announced its plans for direct connectivity for the settlement of Italian and Swiss securities during Wave 1 in June 2015. Now, SGSS also plans to connect to the markets in Wave 2 at the end of March 2016, connecting to Euroclear ESES (Euroclear Settlement of Euronext-zone Securities) central securities depositories (CSDs) in France, Belgium and the Netherlands, as well as Interbolsa in Portugal and NBB-SSS for fixed income in Belgium. Thus, SGSS Directly Connected Participant (DCP) capabilities will reach a total of seven T2S markets.
SGSS says that it will harmonize and rationalize its processing model and optimize liquidity management by investing in direct connectivity to multiple markets in T2S.
“Providing full market coverage as a DCP during the second wave demonstrates our readiness to accompany our clients in reaching their objectives—whether they are targeting a full custody package or selected unbundled services,” says Guillaume Heraud, global head of development for Financial Institutions & Brokers at SGSS. “SGSS is strengthening its one-stop-shop value proposition and taking it to a new level with access to clearing, custody, asset servicing only and liquidity management services across the Euronext zone.”
In addition to connecting to the platform, SGSS will act as Payment Bank in T2S, providing cash to CSD participants to support securities settlement.
SGSS Extends Plans to Directly Connect to T2S Markets
Société Générale Securities Services (SGSS) has expanded its implementation plans for direct connectivity to the TARGET2-Securities (T2S) platform, by working toward connecting to all five markets joining in the second wave of T2S.