National curbs hit budding pan-EU settlement market

As T2S approaches final migration, restrictions on primary dealers undermine efficiencies

old-safe-vaulted-door-combination-lock
Locked up: some sovereigns insist their bonds are settled at national depositories

Some sovereign issuers are still instructing primary dealers to maintain accounts at domestic central securities depositories (CSDs) in order to receive government bonds, undermining European Union efforts to create an integrated market for settlement via Target2-Securities (T2S).
 
The pan-European platform, due to link up with its final member CSDs on September 18, offers centralised delivery-versus-payment settlement in central bank funds across all European securities markets. It is intended

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: