SIA and Colt to connect Deutsche Bundesbank to TARGET2-Securities
- The network infrastructure of the two network service providers will allow Germany’s central bank to access the centralised European settlement platform for domestic and cross-border securities transactions
- The majority of transactions generated by banks and central depositories participating in the first phase of migration to T2S, scheduled for June 2015, will be carried on SIA and Colt’s highly reliable and secure network
Milan and London, 9 April 2014
SIA, in partnership with Colt, has won the tender to connect Deutsche Bundesbank to TARGET2-Securities (T2S), the new centralised European platform for the settlement of domestic and cross-border securities transactions.
Deutsche Bundesbank is one of the world’s largest central banks and is responsible for the continuous oversight of the solvency, liquidity and risk management systems of approximately 2,300 credit institutions in Germany. Together with other European banks, the Bundesbank shapes monetary policy and works towards stable financial and payment systems.
Deutsche Bundesbank will be taking part in the first phase of migration to TARGET2-Securities, scheduled for June 2015. SIA and Colt expect the majority of transactions generated by banks and central depositories (CSDs) taking part in the first “wave” of migration to T2S to be carried on their network infrastructure.
“With the clock ticking on the first phase of migration to T2S, now is the time when CSDs and banks across Europe should be choosing their service providers. We are very pleased to be working on this project with Deutsche Bundesbank, one of the biggest central banks in the world,” said Hugh Cumberland, Financial Services Solution Manager at Colt.
“This prestigious success in the tender for Deutsche Bundesbank demonstrates that SIA and Colt have technological qualities of absolute excellence in terms of the reliability, solidity and security of their infrastructures at international level. At the same time, it provides significant confirmation of the fact that the market of network solutions and services for the European financial sector is open and competitive,” commented Gian Bruno Mazzi, Senior Vice President of SIA.
TARGET2-Securities, a project promoted by the European Central Bank (ECB) will be managed by four central banks; Banca d’Italia, Deutsche Bundesbank, Banque de France and Banco de Espana. It is one of the initiatives for the creation of the single European financial market following the Euro, TARGET2, SEPA (Single Euro Payments Area) and PSD (Payment Services Directive). According to forecasts from theECB, TARGET2-Securities will be capable of handling a daily average of over 1 million securities transactions, contributing to a significant reduction in cross-border settlement costs.
SIA is European leader in the design, creation and management of technology infrastructures and services for Financial and Central Institutions, Corporates and Public Administration bodies, in the areas of payments, e-money, network services and capital markets. SIA Group provides its services in around 40 countries, and also operates through its subsidiaries in Hungary and South Africa. The company has offices in Milan and Brussels.
In 2013, SIA managed 2.7 billion card payments and 2.2 billion credit transfers and collections, 28.6 billion trading and post-trading transactions and carried 293.3 terabytes of data on the network.
The Group is made up of seven companies: the parent SIA, the Italian companies Emmecom (innovative network applications for banks and businesses), Pi4Pay (services for Payment Institutions), RA Computer (treasury solutions for banks, businesses and P.A.), and TSP (payment collection services for companies and P.A.), Perago (infrastructures for central banks) in South Africa and SIA Central Europe in Hungary.
For more information, go to: www.sia.eu
Colt is the information delivery platform, enabling its customers to deliver, share, process and store their vital business information. An established leader in delivering integrated computing and network services to major organisations, midsized businesses and wholesale customers worldwide. Colt operates in 22 European countries with a 46,000km European network and transatlantic network capacity. Colt has metropolitan area networks in 41 major European cities with direct fibre connections into 19,800 buildings and 20 carrier neutral Colt data centres.
In 2010, the Colt Data Centre Services business was launched to deliver innovative high quality data centre solutions at a Colt or customer site. Our innovative data centres are rapid to deploy, flexible and highly efficient.
In addition to its direct sales capability, Colt has four indirect channels to market; Agent, Franchise, Distributor and Wholesale which includes Carriers, Service Providers, VARs and Voice Resellers.
Colt is listed on the London Stock Exchange (COLT).
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