ECB offers "early bird package" for T2S 29 November 2011Frankfurt Reporter: Anna Reitman
Image: Shutterstock
CSDs deciding to sign the T2S Framework Agreement for adoption in April 2012 will benefit from reduced prices.
"The Programme Office is very confident that the CSDs and their markets have understood the benefits of the project and that they need to participate," the ECB wrote in a recent project update.
The financial incentive package for CSDs signing on by April 2012 for the first wave of adoption includes a waiver of the one-off entry fee, no fees for the first three months following the go-live date, from July to September 2015, and after that month, there will be a fee reduction by one-third for the whole price list until the end of the last regular migration wave.
The ECB notes that this early bird package is justified because adopters will encounter “teething problems” and will likely need to support the testing activities of CSDs that migrate later.
If a CSD signs by June 2012, it will still benefit from the one-off waiver but will not receive other incentives.
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: Shutterstock 