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During the weekend from 3-5 Feburary 2017, Clearstream (Clearstream Banking Frankfurt and LuxCSD) successfully migrated to the ECB’s TARGET2-Securities (T2S) platform. The first business day is already in process and runs smoothly. As it is the largest T2S participant, the migration of Clearstream has added an unprecedented volume of about 40% to the overall volume on the ECB's settlement platform. This leads to a doubling of current volumes and means that more than 80% of the total volume now has been migrated to the platform.
“The successful conclusion of the fourth T2S migration wave brings T2S very close to the finishing line, taking Europe a crucial step forward towards a harmonised settlement landscape”, says Berthold Kracke, CEO of Clearstream Banking AG. “As of...
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