TARGET2-Securities, more commonly known as T2S, is a single, pan-European platform for securities settlement in central bank money. It brings substantial benefits to the European post-trading industry and is one of the largest infrastructure projects launched by the Eurosystem so far.

Status of the T2S system

Last update: Friday 16 November 2018 05:00

The T2S services are operating normally in accordance with the T2S schedule.

The Eurosystem cannot be held liable for the information provided here.


Successful deployment of release 2.0 in T2S

To ensure that T2S continues to meet the business requirements of its stakeholders, a change and release management process exists. It guarantees that new releases of the T2S software can be deployed effectively. Between 8 and 10 June 2018, release 2.0 was deployed in the T2S production environment. It was the first major release since the end of the T2S migration. One of the main improvements brought by this release is the operational resilience in a multi-currency set-up. It is an essential part of the preparations for the migration of the Danish krone to the T2S platform in October 2018. We would like to thank the entire T2S community for their support and efforts during this implementation.


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T2S harmonisation

harmonisation logo here

Post-trade harmonisation is a key objective of the T2S Community. It will enable T2S to realise its full potential to benefit the European market, in terms of increasing efficiency and establishing a level playing field.

Key documents

Knowledge base providing insight into key technical, functional and legal documents related to T2S.


The T2S project is owned and operated by the Eurosystem, with the close involvement of all relevant stakeholders in the governance framework.