T2S is one of the largest infrastructure projects launched by the Eurosystem so far. It brings substantial benefits to the European post-trading industry by providing a single pan-European platform for securities settlement in central bank money.

Status of the T2S system

Last update: Saturday 28 May 2016 03:00

The T2S services are closed for settlement in accordance with the T2S calendar.

The T2S services will reopen on the next T2S settlement day as per T2S calendar.The Eurosystem cannot be held liable for the information provided here.


T2S welcomes the wave 2 CSDs!

The roll-out of T2S has moved forwards as the Portuguese and Belgian central securities depositories (CSDs) – Interbolsa and National Bank of Belgium Securities Settlement System (NBB-SSS) – successfully completed their migration activities, as scheduled, over the Easter weekend and started operating on the platform as of 29 March 2016.

The two CSDs made up the second wave of the T2S migration plan approved by the Governing Council of the ECB. The Belgian and Portuguese markets’ compliance with the T2S harmonisation standards was assessed prior to their migration and is presented in the Sixth T2S Harmonisation Progress Report.


T2S harmonisation

harmonisation logo here

Post-trade harmonisation is a key objective of the T2S Community. It will enable T2S to realise its full potential to benefit the European market, in terms of increasing efficiency and establishing a level playing field.

Key documents

Knowledge base providing insight into key technical, functional and legal documents related to T2S.


The T2S project is owned and operated by the Eurosystem, with the close involvement of all relevant stakeholders in the governance framework.