TARGET2-Securities, more commonly known as T2S, is a single, pan-European platform for securities settlement in central bank money. It brings substantial benefits to the European post-trading industry and is one of the largest infrastructure projects launched by the Eurosystem so far.
Status of the T2S system
Last update: Tuesday 25 October 2016 05:00
The T2S services are operating normally in accordance with the T2S schedule.
The Eurosystem cannot be held liable for the information provided here.
Wave 3 CSDs have joined T2S!
We are happy to welcome five new central securities depositories to T2S! Having successfully migrated over the past weekend, Euroclear Belgium, Euroclear France, Euroclear Nederland, VP Lux (Luxembourg) and VP Securities (Denmark) began operating on the platform as of 12 September 2016.
With wave 3 on board, T2S is now processing about 45% of the total transaction volume expected after the end of full migration in 2017. The next migration wave (wave 4) is planned for 6 February 2017.
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.
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.