Central Banking

CSDs sceptical of ECB's settlement plans

Clearstream and Euroclear, Europe's two largest central securities depositories, were sceptical that the European Central Bank's (ECB) plans to build a single settlement platform will deliver the benefits the central bankers promise, Central Bank News reports from Sibos.

Announced in summer 2006, the ECB plans to offer a service to bring together the settlement of European securities, currently divided along national lines. The platform, known as Target2 Securities or T2S, will build on the ce