ECB Sticks to T2S Launch Date

The European Central Bank (ECB) has reaffirmed its planned launch date for its incoming settlement platform TARGET2 Securities (T2S), as it attempts to put to rest fears of a delay.
By Joe Parsons(2147488729)
The European Central Bank (ECB) has reaffirmed its planned launch date for its incoming settlement platform TARGET2 Securities (T2S), as it attempts to put to rest fears of a delay.

According to a statement from the ECB, “the T2S Board reviewed the status of the T2S testing activities and confirmed that the platform is sufficiently stable for live production on 22 June.”

T2S will go live for securities markets in Greece, Italy, Malta, Romania and Switzerland.

At an industry conference last month, Paul Bodart, a senior member of the ECB’s T2S Board cast doubts over the launch date of the platform due to concerns over stability.

He said a delay until September would allow the Belgium, Dutch and French markets to still go live in the second wave in March 2016.

Furthermore according to a report from Reuters, it stated a group of Italian banks had also asked for the launch date to be postponed until September due to technical problems.

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