MILAN & LONDON–(BUSINESS WIRE)–SIA, in partnership with Colt Technology Services, has won
a tender commissioned by the European Central Bank for the provisioning
of connectivity services allowing European central and commercial
banks, central depositories, automated clearing houses and other payment
service providers to connect directly to Eurosystem market
infrastructures through a single access interface (Eurosystem Single
Market Infrastructure Gateway – ESMIG).
Thanks to the concession granted to SIA and Colt as Network Service
Providers for the ESMIG, starting from November 2021, all the key
organisations in the European financial system will be able to access
the platform for the settlement of large-value payments TARGET2,
the instant payments settlement service TIPS, the securities
settlement platform TARGET2-Securities (T2S), the Eurosystem
Collateral Management System (ECMS) and possibly other new
services and applications.
ESMIG is a fundamental component in the implementation of the TARGET2
and TARGET2-Securities consolidation project, which was one of the
key proposals of Eurosystem’s “2020 Vision” strategic plan for the
evolution of market infrastructures. This project will entail savings
for both financial institutions, who require more secure and reliable
functionalities to be made available, and for the Eurosystem itself
through a reduction in operating costs.
The partnership between SIA and Colt, signed originally in 2012 on the
occasion of the TARGET2-Securities call for tenders, has led to the
successful attainment of one of the two ten-year licenses for ESMIG. It
was due to the organisations high technological profile and strong
international presence, which saw the two companies being awarded
this business.
Contacts
SIA
Filippo Fantasia – Valentina Piana
Tel. +39
02.6084.2833/2334
[email protected]
