SIS SegaInterSettle, the Swiss settlement system, and its UK partner CRESTCo are offering cross-border securities settlement in pan-European exchange trading. As a result, it will be possible to settle all European blue chips on the same terms as domestic securities, a step forward for the partners in The Settlement Network (TSN).
UK CRESTCo clients will have access to the international markets serviced by SIS – on the same terms as for domestic UK securities, while Swiss clients will be gaining direct low-cost access to the UK securities market via the SIS interface.
Services will be based at a single locality, without the duplication of development costs, and the real-time link between the two systems will allow synchronisation of settlements.
“Our strategy aims to make The Settlement Network the first-choice settlement facility in pan-European equities trading,” says SIS CEO Heinz Haeberli.
The Settlement Network (TSN) was launched in March 2000 by SIS SegaInterSettle and CREST to provide a single process for the settlement of cross-border securities trading in Europe.