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Address by Mario Draghi (First signatures to the T2S Framework Agreement) - 8 May 2012

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Published on May 8, 2012

Mario Draghi: Address at the event marking the first signatures to the T2S Framework Agreement (8 May 2012).

This event marks the signing of the T2S Framework Agreement by a first group of nine central securities depositories (CSDs), i.e. those that have decided on an early contractual agreement with the Eurosystem regarding their participation in T2S:

■Bank of Greece Securities Settlement System -- BOGS (Greece)

■Clearstream Banking AG (Germany)

■Depozitarul Central S. A. (Romania)

■Iberclear (Spain)

■LuxCSD S.A. (Luxembourg)

■Monte Titoli S.p.A. (Italy)

■National Bank of Belgium Securities Settlement System -- NBB-SSS (Belgium)

■VP LUX S.á.r.l. (Luxembourg)

■VP Securities A/S (Denmark).

These CSDs account for around two-thirds of the current securities settlement volumes in the euro area. In addition, several other CSDs are expected to sign the T2S Framework Agreement in June 2012.

The signing of the Framework Agreement represents a key milestone in the T2S project. The event has been organised to acknowledge the important contribution to the project made by the first CSDs to join T2S. A financial incentive package awaits those CSDs that will sign the Framework Agreement at this event and migrate early to T2S.

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