Eurosystem Confirms T2S Technology Readiness

The Eurosystem, Europe’s monetary authority for the Eurozone, has confirmed the production environment of the incoming settlement platform, TARGET2 Securities (T2S), is now ready.
By Joe Parsons(2147488729)
The Eurosystem, Europe’s monetary authority for the Eurozone, has confirmed the production environment of the incoming settlement platform, TARGET2 Securities (T2S), is now ready.

According to a statement on its website, “this means that the technical infrastructure on which T2S runs and the organizational structures are prepared for the migration of the first wave of CSDs and central banks.”

On June 22nd, CSDs and central banks based in Italy, Greece, Romania, Malta and Switzerland will go live on the harmonized settlement platform.

The European Central Bank (ECB) has also recently renewed the mandate of the T2S Board for another two years, which includes represents from the central banks of the Netherlands, Portugal, France, Italy, Germany, Greece, Ireland and Spain.

It also appointed Paul Bodart, former head of EMEA operations at BNY Mellon, and Joël Mérère, former member of Euroclear Management Committee, as two non-central bank members.

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