- MIP NEWS
Financial result of TARGET2-Securities in 2020
21 June 2021
TARGET2-Securities (T2S), the Eurosystem’s platform for securities settlement, recorded a positive financial result of EUR 15.1 million in 2020. This result was mainly due to two factors: first, the increase in the number of settled instructions on the platform, mainly in early 2020 owing to the start of the coronavirus (COVID-19) pandemic, and second, the price increase in T2S approved by the Governing Council in June 2018, which became effective on 1 January 2019.
Revenues from T2S fees amounted to EUR 126.6 million in 2020, compared with EUR 101.6 million in 2019. At the same time service provider expenses increased from EUR 71.7 million in 2019 to EUR 73.4 million in 2020. For more statistics, see the T2S annual report.
Following the latest T2S external audit, the auditor stated that “In our opinion, the accompanying financial statements of the entity for the year ended 31 December 2020, are prepared, in all material respects, in accordance with the principles of the TARGET2-Securities Financial Reporting Framework”.
Read more in the T2S financial statements for the fiscal year 2020.