The FINANCIAL -- Euronext announces that the Portuguese Central Securities Depository Interbolsa, a subsidiary of Euronext Lisbon, has successfully completed the migration to TARGET2-Securities (T2S), one of the largest infrastructure projects launched by the European Central Bank - Eurosystem so far, which brings substantial benefits to the European post-trading industry by providing a single pan-European platform for securities settlement in central bank money.
Through T2S Interbolsa allows for core, neutral and borderless pan-European securities settlement. A single set of rules and standards apply to all transactions in Europe via T2S, reducing the complexity of the market structure, making the European markets more attractive and efficient, according to Euronext.
“Interbolsa is at the forefront of the settlement and custody industry within Europe. We are confident that this successful migration to T2S will bring unmatched benefits for all Interbolsa clients, in terms of harmonization of processes and future solutions - efficient and secure - provided to the Portuguese Market. We are very thankful to all our stakeholders,” said Rui Matos, interim CEO of Interbolsa.
“We are very pleased to complete the migration to the T2S pan-European platform as planned, which is a key milestone in securities settlement,” said Lee Hodgkinson, Head of Markets and Global sales at Euronext. “We would like to thank the Interbolsa teams and our clients for their effort and commitment in completing this important migration.”