SIX Estimating Services chooses SWIFT VAN to connect to T2S
SWIFT’s resilience, reliability and competitive pricing for T2S drive SIX Estimating Services’ choice
Dubai, 16 September 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 at Sibos that SIX Estimating Services, the CSD group for Switzerland, will use SWIFT’s Value Added Network (VAN) solution to connect to T2S. It will also take advantage of further value-added services from SWIFT.
SIX Estimating Services is the Swiss market infrastructure and offers share registration, domestic and international clearing, domestic and international settlement and custody services, as well as comprehensive collateral management and global fund processing services in more than 66 markets worldwide. It intends to go live on T2S connecting via the SWIFT VAN in 2015.
Thomas Zeeb, CEO of SIX Estimating Services, says: “As the only current provider of international CSD services joining in wave 1, we are demonstrating our commitment to offering our community the highest levels of service in the T2S environment. SWIFT’s connectivity solution for T2S is the right foundation for our offering, bringing the resilience, reliability and competitive pricing we need.”
Alain Raes, Chief Executive, EMEA and Asia Pacific, SWIFT, comments: “We are delighted that SIX Estimating Services has decided to leverage SWIFT to connect to T2S and thank it for its confidence that SWIFT’s is the most reliable, cost effective and strategic solution.”
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 – both those connecting directly and those that will be indirect participants – 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.
For more information, please refer to our website e-paying.info or contact:
Tel: +32 2 655 3377