Link Up Markets - the recently founded joint venture of 7 European CSDs to improve the efficiency of cross-border securities transactions in the post trade area - has chosen Clearstream Services S.A. to deliver, implement and operate the IT infrastructure and network for Link Up Markets.
This is the result of the Request for Proposal elaborated by the joint venture partners of Link Up Markets (Clearstream Banking AG Frankfurt, Hellenic Exchanges S.A., IBERCLEAR, Oesterreichische Kontrollbank AG, SIS SegaInterSettle AG, VP Securities Services, VPS). Launched last April, Link Up Markets aims to contribute to a more efficient European securities market. This will be done by providing a single point of access for 7 markets to CSD customers via their preferred CSD. The Link Up Markets IT infrastructure will allow for easy implementation of links between CSD markets.
The key principle of Link Up Markets - to leverage efficient existing solutions wherever possible - is also underscored by the fact that Clearstream Services S.A. subcontracted Tata Consultancy Services Luxembourg S.A. for implementation partly based on two of their existing standard products. This allows Link Up Markets to deliver the infrastructure and respective cost-benefits for the market within the shortest timeframe. Link Up Markets is on track for implementation in the first half of 2009.
Clearstream Services S.A., located in Luxembourg with more than 500 IT specialists, has successfully served financial markets customers worldwide -including Clearstream's 2,500 clients- for over 30 years.
Tata Consultancy Services (TCS) offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery ModelTM. TCS is represented in 50 countries.
