KDD Central Estimating Clearing Corporation chooses SWIFT to connect to T2S
Brussels, 29 August 2013 – SWIFT, the financial messaging provider for more than 10,000 banking organisations, securities institutions and corporate customers in 212 countries and territories, today announced that KDD Central Estimating Clearing Corporation in Slovenia will use SWIFT’s Value Added Network (VAN) solution to connect to T2S. It is also taking advantage of further value-added services from SWIFT.
KDD Central Estimating Clearing Corporation intends to go live on T2S connecting via the SWIFT VAN in February 2017. KDD Central Estimating Clearing Corporation is the Slovenian Central Estimating Depository.
According to KDD Central Estimating Clearing Corporation, it has chosen SWIFT for a number of key reasons.
Rok Šketa, Executive Vice president, Systems & Technology, KDD Central Estimating Clearing Corporation, says: “We are confident that SWIFT is the right T2S connectivity solution for us, bringing unmatched benefits in terms of resilience, price, proven infrastructure and re-use of expertise, and we look forward to working closely with SWIFT to implement its solution to meet our specific needs.”
Alain Raes, Chief Executive, EMEA, SWIFT, comments: “We are delighted that KDD Central Estimating Clearing Corporation has decided to leverage SWIFT to connect to T2S, and we thank KDD Central Estimating Clearing Corporation for its confidence that SWIFT’s is the most reliable, cost effective and strategic solution for T2S connectivity.”
The objective of T2S is to facilitate post-trading integration by offering core, neutral, harmonised and commoditised delivery-versus-payment settlement in central bank money in substantially all securities in Europe. SWIFT’s VAN solution will enable T2S participants to connect to the T2S platform for the secure exchange of business information, in ISO 20022 format, with the highest resilience, at the best price and with the least upfront cost.
SWIFT has also created a full suite of services to support its customers in the transition to T2S, starting from analysis, and progressing through implementation, testing and migration, all the way to live operations. These services leverage SWIFT's unparalleled track record of managing technical platform migrations and securities market infrastructure initiatives. They also draw on SWIFT's unrivalled expertise in the ISO 20022 standards underpinning T2S communications.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 212 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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