- MIP NEWS
- 14 November 2019
Euroclear Bank intends to join TARGET2-Securities (T2S)
Euroclear Bank, an international central securities depository (ICSD), has informed the European Central Bank (ECB) of its intention to join T2S. By joining T2S, Euroclear plans to offer settlement in central bank money to its clients; ICSDs, such as Euroclear, currently settle in commercial bank money only. The ECB stands ready to help facilitate the on-boarding of Euroclear Bank to T2S.
Launched in 2015, T2S is Europe’s single securities settlement platform. It streamlines the safe transfer of securities and cash between investors across Europe. Today T2S connects 20 European countries. By harmonising rules and practices and reducing settlement risk, T2S has greatly enhanced the European securities landscape.