Financial services company SWIFT announced today that it has mitigated four additional capital depositories onto its Target2 Securities, or T2S, network.
The four CSDs, which will start live operations on SWIFT T2S, marks the last four to move to the network since the migration plan first begun in June 2015. The four depositories include those from Estonia, Latvia, Lithuania and Spain’s Iberclear.
The migration allows SWIFT users to have a singular platform for securities settlement. The network also allows for greater liquidity savings, as well as reducing the cost for cross-border transactions and allowing for a more holistic market collaboration between banks and other participants.1 - Reader Likes This Post