SGSS Selects Diamis' Liquidity Management Tool for T2S

Société Générale Securities Services (SGSS) has selected Diamis, a 60/40 joint venture between IT firms Atos and Steria respectively, to provide a TARGET2-Securities (T2S) liquidity management solution, becoming the first bank to choose the solution for this purpose.

Prior to this selection, SGSS had already been a customer of Diamis for interbank payment purposes and for managing liquidity requirements around Basel III.

The solution, CRISTAL, will manage SGSS’ proprietary cash accounts and auto-collateralization with central banks for T2S, and it will also manage clients’ cash accounts and intraday credit positions.

CRISTAL provides application-to-application connection to T2S, and in addition to the aforementioned features, it provides intraday reimbursement of auto-collateralization in order to prevent unexpected funding requirements at the end of the day.

The solution also supports client credit in T2S, such as with collateral valuation and position monitoring. It will also provide SGSS with the required Basel III reporting in regards to intraday liquidity risk.

“CRISTAL enables SGSS to deliver flexible T2S cash services to our customers along with sound management of our intraday liquidity in order to maximize pooling and funding benefits from T2S while securing our daily close of business,” says Anne-France Demarolle, head of Liquidity Management at SGSS. “By entrusting a focused company such as Diamis with cash issues arising with T2S, we are able to dedicate most of our efforts and resources to enhancing our services for securities settlement.”