Monte Titoli launches new DVP service with Austrian CSDJun 07 2012 - 11:57
Monte Titoli launches new delivery-verses-payment (DVP) service with Austrian csd
- Monte Titoli now connected to 18 securities markets through 9 links with European and US CSD
London Stock Exchange Group (LSE Group) today announces that Monte Titoli, the leading European Central Securities Depositary (CSD) and provider of financial settlement services, has launched a new DVP service with the Austrian CSD Oesterreichische Kontrollbank (OeKB). This new service widens the offering of cross-border services available to Monte Titoli’s clients.
The initiative, effective immediately, builds on the existing link with the OeKB, enriching it with the Delivery-Versus-Payment functionality. The launch brings the total number of DVP links to 15, allowing Monte Titoli clients to benefit from increasingly harmonised settlement of their cross-border trading activity within Europe.
Monte Titoli provides cross-border settlement and custody services for over 100 banks in these markets.
Other central CSDs connected to Monte Titoli include Euroclear France, Euroclear Bank, Euroclear UK&Ireland, Clearstream Banking Frankfurt and Luxembourg, Iberclear and SIX-SIS.
With assets under custody of €3.2 trillion, Monte Titoli is a committed champion of the T2S project and remains the only confirmed major first-wave CSD participant to join T2S.
For further information please contact:
Ed Clark Press Office +44 (0)20 7797 1222
Anna Mascioni Press Office +39 027 2426 211
To download the press release: (file pdf - 54 KB)