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T2S Security Managers Group (SMG)

The Security Managers Group (SMG) is responsible for coordinating and monitoring information security risk management and cyber resilience activities for T2S.

This involves reviewing progress with the implementation of the Eurosystem Action Plan for Cyber Resilience in terms of regulatory requirements and contributing to operational processes and procedures for T2S from an information security and cyber resilience perspective.

The SMG also helps to organise security tests for the T2S ecosystem and other activities relating to information security and cyber resilience, reviews changes to the relevant software and infrastructure, and monitors the performance of information security risk management for T2S.

The SMG is composed of information security and cyber resilience experts from signatory central securities depositories, non-euro area national central banks participating in T2S settlement because of a connection to T2, the ECB and the 4CB (i.e. the Banque de France, the Banca d’Italia, the Banco de España and the Deutsche Bundesbank).

The SMG reports to the Market Infrastructure Board and provides the CSD Steering Group with regular updates on its work.

Entities represented in the SMG Mandate