Malta Stock Exchange successfully connects to T2S

2014 / December 20

Percival Software (Percival), a leading CSD software vendor, announced that its customer, Malta Stock Exchange (MSE), have successfully passed the first range of testing with Target2-Securities (T2S) using Percival’s DEPEND solution for Central Securities Depositories.
DEPEND is a fully functional, highly adaptable and configurable CSD solution available on .NET and supports best practices and efficient operation for all aspects of CSD business including multi-model settlement, multi-trading venue integration, multi-currency processing, complete registry functionality with corporate event processing for equities and fixed income securities, and a fully multi-lingual interface.
DEPEND is the solution recently selected by Verdipapirsentralen ASA (VPS), the Norwegian CSD as a core system replacement.
At MSE, DEPEND is backed up by Percival’s adaptable and configurable messaging layer and enterprise service bus product called HUBBLE, which handles the communications in ISO 20022 messages over a SWIFT network connection to T2S.

Eileen Muscat, Chief Executive, MSE, said, “From the start, we have used Percival for our CSD solution and have been very satisfied with their products and their service.  Their latest upgrade has helped us to improve our service base and is key in our plans for the future to become part of the European marketplace through T2S connectivity.”

About Malta Stock Exchange:
The Malta Stock Exchange commenced its trading operations on 8 January 1992 and today is a fully-fledged regulated market which successfully fulfils its role as an effective venue to raise capital finance.  The Exchange carries out this role by providing a structure for admission of financial instruments to its recognised lists which may subsequently be traded on a regulated, transparent and orderly market place (secondary market).  The main participants in the market are Issuers, Stock Exchange Members (stockbrokers), and the investors in general.  Apart from admission and trading, the Exchange offers a comprehensive range of back–office services including maintenance of share and bond registers, clearing and settlement and custody services through its Central Securities Depository (CSD) which is situated in-house.  It also has a link with Clearstream Banking in Frankfurt, Germany and in Luxembourg facilitating international access.

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