SIX Securities Services chooses SWIFT VAN to connect to T2S

17 September 2013

SIX Securities Services has signed up to SWIFT's Value Added Network (VAN) to connect to Target2Securities (T2S).

The platform aims to facilitate post-trading integration by offering core, neutral, harmonised and commoditised delivery-versus-payment settlement in central bank money in all securities in Europe.

SWIFT’s VAN solution will enable participants to connect to the T2S platform for the secure exchange of business information, in ISO 20022 format.

Europe's central banks awarded two T2S connectivity licenses in 2012. One was given to SWIFT and the other to a consortium made up of SIA and Colt. The former's solution will go live in 2015 and SIX Securities Services will be one of its users.

Thomas Zeeb, chief executive officer of SIX Securities Services, said: "As the only current provider of international CSD services joining in wave one, we are demonstrating our commitment to offering our community the highest levels of service in the T2S environment."

By Claire Archer

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