Monte Titoli signs ECB T2S Framework AgreementMay 08 2012 - 16:55
Monte Titoli signs ECB T2S Framework Agreement
- Reaffirms long-standing commitment to participate in first wave of T2S
- Supports T2S objectives to harmonise European securities settlement infrastructure
- Underpins continuing operation as competitive, neutral settlement and asset servicing provider
London Stock Exchange Group (LSE Group) today announces that Monte Titoli has signed the European Central Bank’s (ECB) T2S Framework Agreement at a ceremony in Frankfurt. The signing ceremony was hosted by Mario Draghi, ECB President and Peter Praet, member of ECB Executive Board responsible for T2S.
Monte Titoli has been a committed champion of the T2S project from the outset and remains the only confirmed major first-wave CSD participant to join T2S. The Group is actively engaged with regulators and customers to ensure that T2S is ready to be introduced in 2015. Monte Titoli is committed to increasing efficiency in the European securities settlement infrastructure, providing harmonised, competitive processes to help reduce cross-border settlement fees.
Kevin Milne, Director Post-Trade Services at LSEG said:
"LSE Group is firmly committed to delivering efficient and competitive post-trade services covering pre-settlement, settlement, custody and asset servicing. The signing of the T2S Framework Agreement is the culmination of Monte Titoli’s long-standing involvement in the project which will help reduce participants risk and costs related to cross-border settlement."
Paolo Cittadini, CEO, Monte Titoli said:
"We are delighted to have signed the ECB’s T2S Framework Agreement. The T2S project will bring improved market efficiencies and harmonised practices and processes to the European market, reducing costs for clients and the financial community across the region. Monte Titoli has been a firm supporter of the T2S project from the outset and we will continue to work closely with regulators and our customers to ensure a timely introduction in 2015, when the first wave will go live."
Additional information, comment and updates on progress can be found on our dedicated T2S microsite http://t2s.londonstockexchangegroup.com/
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For further information please contact:
Lucie Holloway Press Office +44 (0)20 7797 1222
Anna Mascioni Press Office +39 027 2426 212
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