Iberclear, BME鈥檚 Spanish central securities depository, has added the Portuguese market to its cross-border services (CBS).
Iberclear customers will have access to this new market through the connection to the Portuguese central securities depository, Interbolsa.
Portugal joins the other markets already available through this service since last year, including Germany, France, Italy, the Netherlands and Austria.
Spanish financial institutions can now register and settle international securities from these markets through Iberclear, it was revealed.
According to Iberclear, this acts as a single point of access to the European Central Bank鈥檚 settlement platform, Target2-Securities (T2S).
This brings about a reduction in costs and processes by simplifying the custody value-chain.
Access to T2S is of special relevance in the management of fixed income portfolios because it involves lower settlement risks.
Additionally, it provides greater efficiency by providing more securities financing tools, such as electronic collateral pledge management and auto collateralisaion services provided by T2S, it was noted.
Meanwhile, CBS comprises settlement and custody services grouped under the areas of corporate actions, proxy voting, and tax reclaim.
Services demanded by an Iberclear participant involving domestic and international securities can be covered.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
Image: Shutterstock 