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TARGET2-Securities software update to be postponed

4 March 2022

New release (R6.0) of TARGET2-Securities (T2S) platform will be postponed

T2S release 6.0 will onboard a number of common components in T2S such as a single interface, multi-vendor connectivity and common reference data.

A 3-week postponement is currently being investigated for both the user-testing and the deployment of the release to the production environment originally planned for 8 April 2022 and 11 June 2022 respectively. More information about release 6.0 will follow by 18 March 2022 at the latest.

T2S is the common platform via which securities and cash are transferred between investors across Europe, using harmonised rules and practices. 20 European countries use T2S. The project to technically and functionally consolidate TARGET2 and T2S is ongoing and set to go live in November 2022. The objective is to meet changing market demands by replacing TARGET2 with a new real-time gross settlement system called T2 and optimising liquidity management across all TARGET Services. Read more about the project on our website.