During its development, TARGET2 benefited greatly from cooperation between the Eurosystem and future users of the system. This improved the understanding of market requirements and ensured a smooth migration process and high levels of acceptance of the system by users.
The user consultation process was very fruitful and the Eurosystem designed TARGET2 to fully meet users’ requirements, mainly:
Each central bank participating in TARGET2 is responsible for organising and holding regular meetings with its user community at national level. Meetings of such National User Groups (NUGs) are the basic forums to communicate with users on envisaged changes in TARGET2, collecting users’ feedbacks and requirements. For information about NUG meetings, please contact your national central bank directly.
Strategic issues are addressed in the Contact Group on Euro Payments Strategy (COGEPS), a forum in which the senior management of commercial and central banks is represented.
Joint meetings of the Eurosystem Working Group on TARGET2 (WGT2) and the TARGET Working Group (TWG), which comprises representatives of the European banking industry, take place regularly. These pan-European meetings deal primarily with the management of new system releases. Below you can find the minutes of these meetings.
For User consultations related to collecting change requests for SSP releases, please refer to the individual releases.