ABN AMRO Clearing Bank hooking up directly with Monte Titoli through T2S
- Clearing
Brigitte Seegers
Public Affairs and Manager International Communications
- ABN AMRO Clearing Bank to settle Italian instruments directly with Monte Titoli - This direct connection will deliver clients with sharper deadlines, closer to the market cut-off time
ABN AMRO Clearing Bank hooked up to Monte Titoli as a Directly Connected Party (DCP),leveraging on its existing T2S connection. All customers’ portfolios have now been transferredto accounts maintained with Monte Titoli. Going forward, all transactions in Italian securities(shares and fixed income) will be settled directly with Monte Titoli.
Mauro Dognini, Monte Titoli Managing Director, said:
“We are proud that ABN AMRO Clearing chose Monte Titoli for its operations on the Italianmarket. With over 2 years experience gained on T2S, we are confident that we will be able tohelp ABN AMRO Clearing boost its operating efficiency and allow to also settle Italianinstruments in central bank money. This sets an important milestone bearing out the strategyadopted by Monte Titoli. Our T2S gateway service enables us to provide our customers withsettlement, asset servicing and fiscal services. It underpins our focus to target and serviceinternational clients with sophisticated needs.”
Reinier van Dam, Global Head Core Services & Network Management ABN AMROClearing Bank said:
“Implementing T2S was a formidable project for ABN AMRO Clearing and for the industry. It isgreat to see that we can now capitalise on these efforts to further streamline our street sideconnections and become a direct member of Monte Titoli. This allows us to raise our servicelevels in Italian securities to the highest market standards.”