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Press Release of Banco de Portugal on the new Tender Information System (SITENDER)

On 29 February, Banco de Portugal will launch a new system for Eurosystem’s open market operations – the Tender Information System (SITENDER). This system is to be used by credit institutions that are eligible counterparties to Eurosystem’s monetary policy operations.

SITENDER aims to increase operational efficiency in the implementation of Eurosystem’s monetary policy in Portugal, improving information monitoring and management and reducing risks and operational costs.

SITENDER is the second system made available by Banco de Portugal to institutions within the scope of a more comprehensive project – the GOPM project, which aims to develop integrated systems for the implementation of Eurosystem’s monetary policy, especially for the conduct of monetary policy operations through tender procedures and the management of collateral and operations.

The first component of the GOPM project, COLMS – Collateral Management System, entered into operation on 29 June 2015.

The entry into operation of SITENDER will cause the discontinuance of SITEME – Market Electronic Transfer System of Banco de Portugal, which has been used by Banco de Portugal and institutions since 1999 in the implementation of Eurosystem’s monetary policy in Portugal.

Lisbon, 26 February 2016