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Eurosystem launches procurement for market infrastructure connectivity services

31 January 2019

The Eurosystem will allow users to choose from different network service providers (NSPs) to connect to all TARGET services (TARGET2, T2S and TIPS) and the Eurosystem Collateral Management System (ECMS). The access will be provided through a Single Market Infrastructure Gateway (ESMIG) according to a phased plan starting as of November 2021.

Acting on behalf of the Eurosystem, the Banca d’Italia has launched an open procedure to award up to three concessions for the provision of ESMIG connectivity services. The estimated value of the concessions for the contractual duration of ten years is around €540 million. The rules of participation, together with all the other tender documents, are available here.

The concession award procedure is a necessary step to ensure that participants will benefit from high-quality connectivity services at attractive prices. The selection will be based on the lowest price offered to users, provided that the NSP fulfils a minimum set of requirements.

Users will be able to initiate negotiations with the NSPs as of mid-July 2019, once the Eurosystem communicates the names of the NSPs which have been awarded the concessions. By the end of March 2020 the Eurosystem will confirm the list of ESMIG NSPs, once their compliance with all requirements has been checked.