Central Banking

Securities Settlement Service may cut costs

Costs for securities settlement services could fall as much as 20% if the European Central Bank sets up a single platform in the eurozone, a person familiar with the deliberations told Dow Jones Newswires Thursday 17 August.

"We should reduce the costs by 20%, otherwise the project doesn't make sense," the person was quoted as saying. "20% is the potential that is widely envisaged; it could even be more. But there is no concrete target yet as the concept has to be worked out more precisely," t