22 May 2018

Final migration wave of T2S successfully completed

19 September 2017  |  1956 views  |  0 Source: European Central Bank

The single European securities settlement platform TARGET2-Securities (T2S) is now fully operational.

The final migration wave, with Iberclear from Spain and Nasdaq CSD from Estonia, Latvia and Lithuania, successfully implemented all migration-related tasks over the weekend of 15-17 September 2017. Having completed their first operational day on Monday, 18 September, the two central securities depositories (CSDs) can now settle all their securities transactions in euro via T2S.

Some 20 CSDs representing 20 European markets are now linked up to T2S and can benefit from its advanced functionalities. T2S currently processes securities transactions in euro only. However, it was designed to function as a multi-currency platform and by the end of 2018 settlement in Danish kroner will also be possible. Other interested CSDs and currencies are invited to join upon request.

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