Central securities depositories (CSDs)

A single point of access to all the T2S-related information provided by each CSD

This page lists the central securities depositories (CSDs) which have signed up for T2S.

CSDs provide information such as updates on the CSD’s developments regarding T2S, an overview of how the T2S platform will be used and integrated by the CSD, and its specific plans for adaptation to T2S. (We expect to be able to add further hyperlinks as the CSDs are making this information available.)

Map of CSDs participating in T2S by country

Adaptation plans

The CSDs, along with the NCBs, have prepared their detailed feasibility assessments for T2S, indicating that they will adapt their IT systems and processes to T2S according to the timeline set out in the T2S plan.

Of the CSDs that have signed the Framework Agreement, NBB-SSS and Euroclear ESES have informed us about the publication of their adaptation plans. All CSDs are encouraged to notify us when they publish their adaptation plans.

Framework Agreement

The Framework Agreement is the contract which governs the legal relationship between the Eurosystem and each of the 24 CSDs participating in T2S.

Migration plans

The CSD Steering Group proposed that the CSDs migrate in four waves – this plan was agreed by the ECB Governing Council. ( Spotlight )

Nature of outsourcing in T2S

The Eurosystem clarified its view on the nature of outsourcing in T2S in a note published by the ECB Governing Council in October 2009, which has also served as basis for the negotiation of the Framework Agreement with CSDs. ( Spotlight )

Eligibility Criteria

The Governing Council of the European Central Bank decided to establish detailed rules and procedures for implementing the eligibility criteriafor central securities depositories to access T2S services.