Balances and pending settlement instructions in these three segments migrated between 9 and 12 September.
This migration wave, known as Wave 3, was a key milestone and a major achievement in the roll-out of T2S, ESES central securities depositaries bringing 25% of the overall settlement volumes forecasted to take place on T2S once it is fully implemented.
As a directly connected participant to T2S and European leader in the securities industry, BNP Paribas Securities Services successfully migrated its positions to the newly-created platform.
Alain Pochet, Head of clearing, custody and corporate trust services at BNP Paribas Securities Services, said: "We now have 50% of targeted settlements taking place in T2S, facilitating exchange of securities and optimising treasury and liquidity needs. The smooth transition demonstrated a strong commitment to the industry while transforming our business to capture more opportunities".
A recent survey of 50 market participants, conducted by BNP Paribas Securities Services, showed that 88% of respondents expect T2S to “transform European post-trade” once the migration is completed in 2017.