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T2S

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: Friday 24 February 2017 20:35

T2S is now operating normally. The earlier service interruption has been resolved.

The Eurosystem cannot be held liable for the information provided here.

 

T2S doubles settlement volumes with wave 4 migration

6 February 2017 was the first operational day on T2S for the clients of six central securities depositories (CSDs) from Austria (OeKB CSD), Germany (Clearstream), Hungary (KELER), Luxembourg (LuxCSD), Slovakia (CDCP) and Slovenia (KDD). Following the successful migration over the weekend, the volume of securities transactions now being settled on the platform has almost doubled. This is the largest T2S migration wave so far, in terms of both the number of CSDs and the increase in settlement volumes.

18 CSDs, representing 16 markets, are now settling securities transactions on the pan-European platform. T2S is thus making a solid contribution to post-trade integration in Europe.

 

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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.

Governance

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