Monday June 24 2024
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: Sweden
On 18th June 2024, Riksbank the Central Bank of Sweden decided to proceed with the process of using the European technical platform T2 for its RIX-RTGS payment settlement service. The Riksbank is thus fulfilling its 2021 policy decision and has decided to negotiate an agreement with the ECB for payments in Swedish kronor to be settled on the T2 platform.
Contract negotiations with the ECB will start in 2024. The transition to the platform is expected to take around five years. RIX participants will be consulted on a timetable for the transition.
The Executive Board also stands by its earlier policy decision to move securities settlement to the European TARGET2-Securities (T2S) platform in the future. However, a transition to the T2 platform should be implemented before starting a transition to the T2S platform.
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