Effective
Monday 31 August 2015
wave 1b of TARGET2-Securities (T2S) will be launched.
In wave1b, the Central Securities Depository (CSD) in Italy, Monte Titoli, will change their settlement processes by outsourcing their settlement activity to T2S. Clearstream Banking S.A. (hereinafter referred to as "Clearstream Banking") has an existing direct domestic link to the aforesaid CSD.
The CSD will send securities instructions received from its participants to T2S for matching and subsequent settlement. Clearstream Banking will continue to access the CSD via its local agent and depository:
Country | CSD | Type of link | Securities impacted | Services impacted by T2S wave 1b |
Italy | Monte Titoli | Direct link operated by Intesa SanPaolo, Milan | Debt securities and equities eligible in Monte Titoli | Settlement free of and against payment in EUR |
Please refer to the PDF attached below for the information about the impact on customers.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
