Colt and financial and payment services provider SIA win network infrastructure tender for European Central Bank (ECB)

The two players will design, create and manage the network infrastructure to connect central depositories (CSDs), Eurosystem central banks and the leading European bank groups to TARGET2-Securities (T2S), the future single platform for the settlement of domestic and cross-border securities transactions within the Euro zone.

To enable access to T2S, Colt and SIA will develop secure, high-speed connectivity and messaging services in line with the requirements and specifications defined by the ECB.

T2S will be operational by mid-2015 and is expected to process over one million securities transactions per day.

Source: Colt