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By Geert DEBROUWERE, Capco T2S Expert Jeroen DOSSCHE, Capco Benelux Partner
Today, the European post-trade world is fragmented and very costly to operate compared to the US. To diminish settlement costs across Europe, harmonisation and the creation of a single market on a European level is essential. In an effort to eliminate the “Giovannini Barriers” – tax, legal and other considerations feeding the continued fragmentation of the European clearing and settlement landscape - the European Union has launched several initiatives in support of the Lisbon Agenda, intended to make the EU more competitive. These initiatives include legislative initiatives, initiated by the European Union and infrastructure initiatives, such as Target 2 Securities (T2S), driven...
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