Congratulations Europe – the final wave of migration to T2S has been completed
With the successful migration of the Spanish and the Baltic markets, TARGET2-Securities (T2S) is now fully operational as one of the largest security settlement platforms in the world, settling an average of 550,000 transactions per day.
The T2S project to harmonise rules and procedures and develop an integrated securities settlement platform was officially launched in 2008. Read more on the role and impact of T2S in our latest MIP online article, for which we also spoke to Indars Aščuks, Associate Vice-President and Head of Baltic Markets at Nasdaq, and Jesús Benito, Chief Executive Officer of Iberclear.
Furthermore, we are continuing to monitor the markets’ compliance with the agreed set of harmonisation standards. The mid-year T2S harmonisation update looks at the four markets that recently connected to the platform as part of the final migration wave on 18 September 2017 – Estonia, Latvia, Lithuania and Spain – as well as the six markets that already joined T2S earlier this year. All of them demonstrate a good record of compliance.