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TARGET Services

OPERATIONAL STATUS

TARGET2

TARGET2 closed the day trade phase at 18:00.

Friday, 2 December 2022 18:00:00 CET

See historical information
T2S

T2S is operating normally and the earlier incident impacting the Application-to-Application messages that relate to outbound reference data response messages was resolved at 11:20.

The incident did not impact the operating day schedule.

Friday, 2 December 2022 11:20:00 CET

See historical information
TIPS

TIPS opened the new business day and is operating normally.

Friday, 2 December 2022 18:05:00 CET

See historical information
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TARGET Services are a number of services developed and operated by the Eurosystem which ensure the free flow of cash, securities and collateral across Europe.

These financial market infrastructure services include TARGET2 (for settling payments), T2S (for settling securities), TIPS (a service for instant payments) and ECMS (a service for collateral management). All of them settle in central bank money.

The Eurosystem also engages in a number of initiatives which aim to promote efficiency and innovation and ultimately achieve greater integration in financial markets in Europe. In line with its strategy, the Eurosystem is investigating ways to enhance its financial market infrastructure so that it continues to meet the needs of the market, stays ahead of cyber security challenges and keeps up with the latest technological developments.

Current services

Upcoming services

Governance

The Market Infrastructure Board (MIB) is a streamlined management body in charge of Eurosystem initiatives in the field of market infrastructure. It is responsible for the day-to-day operation of TARGET2, TIPS and T2S, as well as for the management of all Eurosystem projects in the area of market infrastructure and payments.

Enhancing our services

The Eurosystem is constantly working towards enhancing the safety and efficiency of its market infrastructure and exploring innovation.

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