ECB picks SIA and Colt to provide access network to Eurosystem infrastructures
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ECB picks SIA and Colt to provide access network to Eurosystem infrastructures 17 June 2019London Reporter: Rebecca Delaney
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The European Central Bank (ECB) has selected the partnership between SIA and Colt Technology Services to provide connectivity services to European central and commercial banks, central depositories and automated clearing houses.
The concession will use the Eurosystem Single Market Infrastructure Gateway (ESMIG) to provide a direct connection to Eurosystem market infrastructures, such as Target2-Securities (T2S), the instant payments settlement service, and the Eurosystem Collateral Management System.
SIA and Colt will act as part of Eurosystem’s strategic plan, to be implemented in 2020 and beyond.
The duo are expected to facilitate the evolution of payments, securities and collateral infrastructures, as well as providing an increased availability of secure functionalities.
Nicola Cordone, CEO at SIA, commented: “We’re particularly proud to have been chosen, in partnership with Colt, as one of the two network service providers for Eurosystem market infrastructures.”
“This award for ESMIG is very important because, for the first time in Europe, all financial institutions have the chance to select the best technological solution in a framework of free competition with considerable benefits in terms of cost and efficiency, and contributes to strengthening cybersecurity and the resilience of strategically important systems.”
Vice president of enterprise and capital markets at Colt, Paula Cogen, added: “We are pleased to underpin the infrastructure evolution envisaged by the “Vision 2020” programme by providing connectivity and messaging solutions for the fully managed T2S platform.”
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