VIDEO | Sweden’s enthusiasm for the pan-European Target2-Securities system (T2S) has been lukewarm and it is now over decades that the country has lagged on European harmonisation. According to a broad panel at PostTrade 360° Stockholm, the time has come to take decisive steps back towards a leading role.
A year ago, at PostTrade 360° Stockholm 2022, deputy governor Martin Flodén described Riksbanken’s reasons for initiating a Swedish move towards adopting the EU’s T2S settlement platform, which would open Sweden’s settlement market for more actors than today’s single one. (That session is here.) Sweden had lagged behind on harmonisation, he stated. This time, a panel discussed how preparations are continuing – not only on T2S, but on various aspects of the harmonisation.
Urban Funered, CEO of the Swedish Securities Markets Association, led the talk with panellists
Roger Storm, CEO of the country’s central securities depository Euroclear Sweden,
Göran Fors, Deputy Head of Investor Services, SEB,
Ola Mjorud, Nordic Securities Services Head, Citi.
“We are not harmonised the way the rest of Europe is,” said Göran Fors, emphasising that this is not just a matter of systems at the CSD, but also very much about the infrastructure among the banks.
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