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  • MIP NEWS

Euroclear Bank joins T2S

21 December 2021

Euroclear Bank, the international central securities depository, is set to migrate to the TARGET2-Securities (T2S) platform. The migration will take place in stages to ensure a smooth transition that enables Euroclear Bank to start offering its clients settlement services in central bank money.

Euroclear Bank is one of the largest central securities depositories in the world. For its international clients, it currently offers settlement services in commercial bank money for a wide range of currencies. By joining T2S, Euroclear Bank will additionally be able to offer its clients securities settlement in central bank money. This will enable it to tap into the single liquidity pool of the ECB’s TARGET Services for collateral, payments and securities settlement in the European Union.

Having signed the T2S Framework Agreement, Euroclear Bank will take part in T2S governance and participate in all related technical groups and activities, which will help it prepare to migrate to T2S. More information about Euroclear Bank’s decision to join T2S is provided on Euroclear’s website.

T2S is the Eurosystem’s common platform on which securities and cash can be transferred between investors across Europe, using harmonised rules and practices. 20 European countries currently use T2S. Euroclear Bank is the first international central securities depository to join the platform. Together with the other TARGET Services, T2S is helping to establish a single capital market in the EU.