European Central Bank taps SIA and Colt to connect market infrastructure
The European Central Bank (ECB) has selected SIA and Colt Technology Services to help it connect to the market infrastructures in the Eurosystem.
SIA and Colt will help ECB connect through a single access interface, ESMIG
SIA and Colt will help the ECB connect through a single access interface, the Eurosystem Single Market Infrastructure Gateway (ESMIG).
ESMIG is a component in the implementation of the Target and Target2 securities and instant payments consolidation projects.
The ECB is already using the network infrastructure of SIA and Colt for testing activities with other major central banks.
Both vendors also attained (as a pair) one of the two ten-year ESMIG network service provider licences.
“We feel very honoured that the European Central Bank has selected SIA and our partner Colt for access to financial market infrastructures of strategic importance for the entire Eurozone,” says Nicola Cordone, SIA CEO.
“This remarkable new international success represents further acknowledgement of the absolute reliability, solidity and security of our infrastructure and technology services.”
SIA secured a €15 billion merger with payments firm Nexi earlier this month. The deal was projected to return a pro-forma aggregated revenue of €1.8 billion.
Combined, they have around two million merchants, 120 million cards, and annual transactions equal to €21 billion.
The company also signed a deal with the central bank of New Zealand in February to underpin its market infrastructure.
Meanwhile Colt announced in April it would be underpinning the connectivity in Taiwan’s major exchanges.
