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Report on the impacts and benefits of cross-border activities in T2S

The Advisory Group on Market Infrastructures for Securities and Collateral has published a report on cross-CSD (central securities depository) activity in TARGET2-Securities (T2S). The report sheds light on the multiple ways in which T2S facilitates cross-border access to securities and provides an explanation as to why the settlement integration brought about by T2S is not captured by current cross-CSD statistics. It points out that the market is adapting to the new landscape and embracing the opportunities that T2S has to offer, despite certain obstacles hampering the establishment of a fully harmonised European domestic settlement market. The report also proposes that the current set of cross-CSD indicators should be refined to better monitor cross-CSD activity in T2S. Read the full report for more information.