Societe Generale Securities Services (SGSS) has been mandated by KELER, the Hungarian central securities depository, to facilitate connection to the Target-2-Securities (T2S) platform providing access to liquidity management and collateral transformation solutions for T2S, the European platform for securities settlement. The mandate will take effect when KELER connects to the platform during the 4th migration wave in February 2017.
As a participating non-euro country, SGSS will provide the hungarian CSD with a single line of liquidity in euro currency to settle its transactions for both domestic and regional clients seeking access to European markets.
Services provided by SGSS:
• Payment bank services which include:
o Liquidity provision in central bank money through Societe Generale’s dedicated cash
account in T2S in euro currency
o Cash pooling and netting services for securities settlement in multiple T2S markets
o Flexible funding options in and out of T2S through external guarantees, collateralization
and unsecured credit facilities
o Management of the Credit Memorandum Balances o Reporting on intraday liquidity usage
Benefits for Keler include removing fixed costs linked to setting-up and running euro currency liquidity management in T2S and providing instant access to the euro markets in T2S on a “pay as you go” basis
As a participating non-euro country, SGSS will provide the hungarian CSD with a single line of liquidity in euro currency to settle its transactions for both domestic and regional clients seeking access to European markets.
Services provided by SGSS:
• Payment bank services which include:
o Liquidity provision in central bank money through Societe Generale’s dedicated cash
account in T2S in euro currency
o Cash pooling and netting services for securities settlement in multiple T2S markets
o Flexible funding options in and out of T2S through external guarantees, collateralization
and unsecured credit facilities
o Management of the Credit Memorandum Balances o Reporting on intraday liquidity usage
Benefits for Keler include removing fixed costs linked to setting-up and running euro currency liquidity management in T2S and providing instant access to the euro markets in T2S on a “pay as you go” basis