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Advisory Group

About

The T2S Advisory Group (AG) provides advice to the Eurosystem on the T2S project. Its primary objective is to ensure that T2S fully meets the needs of the market.

The AG is composed of approximately 90 participants, including representatives from all T2S stakeholder categories (i.e. NCBs, CSDs and users who have expressed their interest in joining T2S) as well as a number of observers from EU and industry organisations.

The AG was set up in its current composition for the Specification Phase of the T2S project, which ended in February 2010. However, the mandate of the AG has been extended until entry into force of the contractual agreements between the Eurosystem and the participating CSDs, expected in 2011.

Responsibilities:

The main areas on which the AG advises the Eurosystem are:

The review of the T2S functional specifications to ensure their compliance with the user requirements
The definition of the governance framework of T2S
The definition of the pricing structure for the services offered by T2S
The ongoing activities to foster harmonisation in the field of securities settlement related to T2S.

Sub - Groups

Sub-groups that have concluded their mandate

Meetings
Members
Mandate

Meetings

Past

Members

Chair

Function	Name	Organisation
Chairman	Jean Michel Godeffroy	ECB
Rapporteur	Helmut Wacket	ECB

Programme Board

Name
Pierre Beck
Jesus Lopez Pedruelo
Jochen Metzger
Michail Michalopoulos
Anders Reveman
Iain Saville
Jan Schüllerqvist
Martina Glaser
Walter Hoffenberg
Yvon Lucas
Cristina Mastropasqua
Alfons Vaes

Representatives

NCB	Name	CSD	Name	User	Name
De Nederlandsche Bank	Ariena J. van Wageningen	Cyprus Stock Exchange	Nondas C. Metaxas	ABN Amro	Gerard Hartsink
Banco de Portugal	Fernando Chau	Helex	Nicos Porfiris	Intesa Sanpaolo	Mario Domenico Recchia
Central Bank of Malta	Sylvana Gatt	Malta Stock Exchange	Eileen V. Muscat	BBVA	Roberto Vicario Montoya
Bank of Finland	Risto Koponen	SIS	Hans Däppen	Bank Austria	Günter Schnaitt
Norges Bank	Kjetil Watne	OeKB	Georg Zinner	Bank of New York Mellon	Paul Bodart
Denmarks Nationalbank	Kristian Kjeldsen	Clearstream	N.N.	Société Générale	Eric De Gay De Nexon
ECB	Marc Bayle	Clearstream	Mathias Papenfuss	Citibank	Pervaiz A. Panjwani
EU Commission	Felicia Stanescu	Clearstream	Mark Gem	Commerzbank	Joachim von Eiberg
Central Bank of Ireland	Michael Bushe	Iberclear	Jesus Benito	HSBC	Henry Raschen
Bank of Slovenia	Peter Centrih	VP	Johannes Luef	ING Bank	Antoine Vonk
Slovakian Central Bank	Peter Holicka	Euroclear	Anders Löfgren	JP Morgan	Diana Dijmarescu
Central Bank of Cyprus	Stelios Georgakis	Euroclear	Hanna Vainio	Nordea	Peter Glismann
Eesti Pank	Kadri Martin	Euroclear	Valerie Urbain	Deutsche Bank	Stephen Lomas
		Euroclear	Paul Symons	Goldman Sachs	Isabelle Hennebelle
		Euroclear	Joel Merere	Merrill Lynch	John Whelan
		Interbolsa	Rui Matos	Banque et Caisse d'Epargne de l'Etat	Carlo Matagne
		Monte Titoli	Paolo Cittadini	CACEIS	Eric Derobert
		Monte Titoli	Paolo Carabelli	Deutsche WertpapierService Bank	Hilmar Schwarz
		KDD	Davor Pavic	LCH.Clearnet	Christophe Hémon
		CDCP Slovakia	Dagmar Kopuncova	Banco Santander	Adolfo García
		EVK Estonia	Julia Segerkrantz	BNP Paribas Securities Services	Alain Pochet
		CSD of Lithuania	Mindaugas Bakas	Morgan Stanley	Margaret Wallace
		CSD Romania	Adriana Tanasoiu	EuroCCP	Diana Chan
		Icelandic CSD	Einar Sigurjónsson	DNB Bank ASA	Jan Penne
		VPS Norway	Arne Adli	Danske Bank	Tom S. Jensen
		Latvian CSD	Raitis Vancans	SEB Merchant Banking	Göran Fors
		KDPW - Poland	Slawomir Panasiuk	Pohjola Bank Plc	Kirsi Maria Sakki
		Keler Hungary	Gyoergy Dudas	UBS	Urs Staehli

Observers

Organisation	Name
CESR	Thierry Francq
EACB (European Association of Co-operative banks)	Jorma Alanne
FESE (Federation of European Securities Exchanges)	Judith Hardt
NBB-SSS	Luc Janssens
EABG (European Savings Bank Group)	Norbert Bielefeld
EBF (European Banking Federation)	Ruud Sleenhoff
Bank of Greece - SSS	Stella Adamopoulou
4 CB	Vincent Bonnier
AFME (Association for Financial Markets in Europe)	Jane Levi

Mandate

The AG is an advisory body that reports directly to the ECB's decision-making bodies on the T2S project. It may request guidance from the Governing Council directly. The AG is established for the duration of the specification phase, which is expected to last until end-2009. The AG is responsible for:

the review of the GFS and the UDFS to ensure their full compliance with the User Requirements Document (URD);
supporting the further definition of the legal framework establishing T2S and underpinning the GFS and the UDFS;
Supporting the Eurosystem in further defining the pricing framework;
Implementing and continuing the work on harmonisation in the field of securities settlement related to T2S that began during the user requirements phase.

The AG may establish sub-groups to support its tasks if it deems this efficient and effective.

Advisory Group - Rules of Procedure download

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Related links

AG in T2S Online