SIA and Colt to connect ECB to Eurosystem market infrastructures
Latest news
SIA and Colt to connect ECB to Eurosystem market infrastructures 19 November 2020Italy Reporter: Maddie Saghir
Image: ilolab/Adobe Stock
SIA, a high-tech company in payment services and infrastructures, has partnered with Colt Technology Services, to provide the European Central Bank (ECB) with connectivity services to the Eurosystem market infrastructures.
The connectivity services will be completed through a single access interface, Eurosystem Single Market Infrastructure Gateway (ESMIG).
ESMIG is a fundamental component in the implementation of the TARGET2 and TARGET2-Securities (T2S) consolidation project, explained SIA.
The ESMIG project will enable all the players in the European financial system to access the platforms provided by the Eurosystem for the settlement of large-value payments TARGET2.
This also includes the instant payments settlement services TIPS, the securities settlement platform T2S, the Eurosystem Collateral Management System (ECMS) and possibly other new services and applications, directly through ESMIG.
"We feel very honoured that the European Central Bank has selected SIA and our partner Colt for access to financial market infrastructures of strategic importance for the entire Eurozone,” stated Nicola Cordone, CEO of SIA.
Cordone continued: “This remarkable new international success represents further acknowledgement of the absolute reliability, solidity and security of our infrastructure and technology services, currently supporting the modernisation initiatives of about 20 central banks all around the world.”
Paula Cogan, executive vice president sales, marketing and customer relationship management of Colt Technology Services, said: “We are proud to have been chosen, together with our partner SIA, to provide connectivity services to the ESMIG platform and thus allow the ECB to focus on its institutional objectives rather than infrastructure.”
“This is further confirmation of the positive reputation that Colt has built up over the years, thanks to numerous investments in both technology and human resources, in Italy and around the world,” Cogan added.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: ilolab/Adobe Stock 