Market Infrastructure & Payments

We provide infrastructure for payment and securities settlement, cooperate with market stakeholders to integrate financial markets in Europe, and oversee financial market infrastructure and payment instruments.

Instant payments and tomorrow’s market infrastructure – Sibos 2016

Sibos 2016 has kicked off on 26 September, at Palexpo in Geneva. Yves Mersch, Member of the Executive Board of the ECB, welcomed the audience present at the Eurosystem’s community session entitled “The future at your fingertips – the European market infrastructure of tomorrow”. In his opening remarks, Yves Mersch sketched out the Eurosystem’s vision and announced the decision taken by the Governing Council to launch the investigation phase of the instant payments project. The speech was followed by a lively panel discussion moderated by Marc Bayle, Director General Market Infrastructure and Payments.

Check out the full programme and come to visit us at the Eurosystem stand, D10, to find out more about European financial market integration. Follow us on and receive live updates during the Sibos week!

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Providing market infrastructure

The Eurosystem has developed and currently operates the real-time gross settlement (RTGS) system, TARGET2, and the European platform for securities settlement in central bank money, TARGET2-Securities (T2S).

Integrating financial markets

The ECB and the Eurosystem foster financial market integration in Europe by contributing to more efficient euro retail payments and the realisation of the Single Euro Payments Area (SEPA). We promote securities harmonisation and the safe and efficient mobilisation of collateral in the euro area via the Correspondent Central Banking Model (CCBM).

Overseeing market infrastructure

The Eurosystem performs oversight to ensure the smooth functioning of payment, clearing and settlement systems. It monitors their performance, assesses them against its objectives of safety and efficiency and, where necessary, induces change.

Market infrastructure and payments explained