ECB releases annual statement with transactions value and volumes data and updates on other initiatives.
The associations said the industry would not be able to make the changes to adapt to the planned consolidation of T2 and T2S by November 2021.
Industry experts argued further consolidation in the custody industry could be likely, but doubted it will happen within the next 12 months to five years.
Earlier this month, the ECB granted SWIFT the first network licence enabling it to provide connectivity services to the ESMIG.
Ulrich Bindseil replaces Marc Bayle de Jesse who left in May to take up the role of CEO at CLS.
In migration to the ESMIG the European Central Bank is planning to consolidate all of their TARGET projects.
FX settlement system names new CEO following exit of David Puth in September 2018.
Panelists at AFME's Post-Trade conference in London argued T2S has failed to lower costs, enhance efficiencies, and overcome post-trade barriers.
Several complications related to corporate actions, differences in tax regimes and securities law between EU member states, have built barriers to entry for T2S.
AFME recently published a new report arguing post-trade reforms need to go further to remove harmonisation barriers.