Euroclear Finland set to join T2S in 2022 30 October 2019Helsinki Reporter: Jenna Lomax
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Euroclear Finland is set to join the European securities settlement platform TARGET2-Securities (T2S) in November 2022.
T2S aims to offer a centralised delivery-versus-payment settlement in central bank funds across the European securities market.
The timing of Euroclear's connection to T2S is set to coincide with the launch of European Collateral Management System (ECMS), ensuring that access to collateral eligible securities in Euroclear Finland’s safekeeping continues.
The most recent new features of Infinity include Partial Settlement, introduced in September 2019, and Equity Savings Accounts, which will become available for retail investors in Finland in January 2020.
Hanna Vainio, CEO of Euroclear Finland, said: “The roadmap of joining T2S has been agreed in close collaboration with market participants, Bank of Finland and the European Central Bank.”
She added: “Just like in the previous stages of the Infinity programme, we will work together with clients to ensure a smooth transition to T2S for the whole market. With our The Central Securities Depositories Regulation license and renewed infrastructure, we are now well-positioned for better serving our Finnish, Nordic and global clients.”
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