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In close dialogue with customers and the market, VP LUX has decided to connect to a new common European clearing system for securities. The system is being established by the European Central Bank (ECB) under the name TARGET2- Securities (T2S) and will be launched in 2016 (see enclosed). For this reason, VP LUX has informed the ECB that it wishes to become one of the first countries to sign up to the system as per 30 April 2012. VP SECURITIES, which is a Danish CSD and the parent company of VP LUX, has also notified the ECB that it wishes to join. CSDs from 26 European countries are expected to join T2S. It is decisive for the Luxembourgian securities market to be connected with European and global markets. This underpins Luxembourgs status as a financial centre. Therefore...
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