AMI-SeCo sets out 2030 roadmap to improve data flows in Europe’s financial markets

19 December 2025

The Eurosystem’s Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) has today published a collective 2030 roadmap to harmonise data and communication across Europe’s financial ecosystem. By migrating corporate events and triparty collateral management processes to ISO 20022 and the Single Collateral Management Rulebook for Europe, AMI-SeCo aims to reduce the current fragmentation and support more transparent, timely and automated information flows between issuers, central securities depositories (CSDs), triparty agents (TPAs) and market participants.

The roadmap has been established to further automate the information flows among participants in the financial ecosystem and ensure that Europe makes a coordinated transition to the ISO 20022 standards. Once implemented, it will improve data transparency and accuracy, timeliness and process automation. Better information flows between issuers and investors will also support the savings and investment union.

Implementation will take place over three phases:

1. The CSDs and TPAs, as well as the Eurosystem and its counterparties, already started migrating after the Eurosystem Collateral Management System was launched in June 2025.

2. By the end of 2028, participants will be able to leverage the new data and communication standards upon request.

3. Full participant onboarding will take place towards the end of 2030.

Throughout these phases, AMI-SeCo will collaborate with national and international stakeholders to ensure continuous alignment.

AMI-SeCo is the Eurosystem’s advisory body through which the Eurosystem aims to support and catalyse post-trade market integration. It does so by creating and monitoring compliance with market standards and by publishing reports that provide input to EU lawmakers on matters pertinent to post-trade integration. This body is comprised of market participants in Europe (i.e. the European Economic Area, Switzerland and the United Kingdom).