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By Benoît Sauvage, Senior Adviser, Financial Market Regulation - ABBL
Here’s a little quiz: what do you think I’m referring to when I mention the number 385? The distance to some specific location? A particular page reference in a novel? An obscure number in astrology or ancient Egypt mythology? No, it is, in fact, the exact number of days before the first wave of CSDs moving to the ECB Target 2 Securities platform. This is an opportune moment to bring T2S back into the spotlight.
This migration of EU - EURO markets, to be more precise - to the T2S settlement will only start next year and be deployed over nearly 2 years before migration is over. The fact that the first markets to move are Italy, Malta, Romania and, perhaps oddly, Switzerland on 22...
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