The 4CB was set up as a dedicated organisation for the T2S project. The internal governance of the 4CB for the management of the project is split between:

• the Project Steering Committee, which steers the project on strategic and policy aspects; and
• the Project Management Committee, which is in charge of the management of the project, as well as of all issues of a business nature and of minor political relevance.

The cross-border project team, which has more than 200 members, is structured in five main areas: functional, development, technical infrastructure, migration and, given the links between T2S and the collateral management systems within and outside the Eurosystem (e.g. CCBM2), a CCBM2 liaison area. Moreover, the Project Management Office, together with a management team, ensures strong coordination and control of the numerous work streams carried out by the 4CB.

Management team

Functional team

The functional team’s main responsibilities are twofold. First, it is responsible for the functional design of the T2S application. In this respect, the functional team prepares the functional documentation dedicated to the users (i.e. the General Functional Specifications, User Detailed Functional Specifications and User Handbooks), as well as that sent to the 4CB development teams for the development of the software. Second, the functional team will be responsible for the internal 4CB acceptance of the T2S application from a functional point of view. Indeed, the T2S application will be tested intensively by the 4CB before the software is delivered to the Eurosystem.

Development team

The development team is responsible for the design of the application, the technical specifications and the development of the software.

Infrastructure team

The infrastructure team is responsible for the technical design and implementation of the T2S infrastructure. Moreover, the infrastructure team will carry out non-functional tests in order to make sure the T2S application meets the expected service levels.

Migration team, Liaison with CCBM2 and Project Management Office

The migration team’s responsibilities are twofold. On the one hand, it defines and sets up the organisation of the 4CB for the operational phase (e.g. the operational tools, communication means and internal procedures). On the other, it provides support to the ECB’s T2S team for the preparation of the Eurosystem’s acceptance of T2S, user testing and migration to T2S.

Given the links between T2S and other systems, in particular the collateral management systems within and outside the Eurosystem, such as CCBM2, a CCBM2 liaison area is in place. The CCBM2 liaison manager is the contact for the CCBM2 project team. He ensures that the two projects are progressing in a consistent manner.

The Project Management Office is responsible for planning and budget monitoring, as well as for ensuring smooth and efficient coordination between the project teams. The security experts, who are responsible for the implementation of the T2S information security policy and security requirements, constitute a dedicated section of the Project Management Office.