About: T2S

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T2S (TARGET2-Securities) is a European securities settlement engine which aims to offer centralised delivery-versus-payment (DvP) settlement in central bank funds across all European securities markets. It is important to take note of the fact that T2S is not a central securities depository (CSD), but a platform intended to enable CSDs to increase their competitiveness.

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  • TARGET2-Securities (T2S) ist eine Plattform für die Abwicklung von Wertpapieren in der EU. (de)
  • T2S (TARGET2-Securities) is a European securities settlement engine which aims to offer centralised delivery-versus-payment (DvP) settlement in central bank funds across all European securities markets. It is important to take note of the fact that T2S is not a central securities depository (CSD), but a platform intended to enable CSDs to increase their competitiveness. After market consultations and a decision by the Governing Council of the European Central Bank (ECB), the project was launched in 2008 and the platform started operations in 2015. The T2S Framework Agreement, negotiated between CSDs and the Eurosystem, has been signed by 24 CSDs, which migrated to the T2S platform in four waves between June 2015 and February 2017. The fundamental objective of the T2S project is to integrate and harmonise the highly fragmented securities settlement infrastructure in Europe. It aims to reduce the costs of cross-border securities settlement and to increase competition and choice amongst providers of post-trading services in Europe. Therefore it is a critical step forward in the creation of the single market for financial services in the European Union. The development and operation of T2S was assigned to four central banks of the Eurosystem—those of France, Germany, Italy, and Spain. The project is being coordinated by the ECB. The IT platform will be owned and operated by the Eurosystem. Technical details of the project are available at the ECB T2S project website. (en)
  • Target2-Securities (T2S) è il motore di regolamento delle transazioni in titoli (securities), di proprietà dell'Eurosistema, approvato nel 2008 dalla BCE (Banca Centrale Europea) e attivo dal 2015. L'elemento qualificante di T2S è la presenza sullo stesso di conti in moneta di Banca Centrale (Dedicated Cash Account - DCA) per il regolamento del controvalore (c.d. gamba contanti della transazione in titoli). I DCA sono collegati a conti sui sistemi RTGS, tramite i quali ricevono e inviano liquidità. Dal 2018 il regolamento può avvenire anche in corone danesi. (it)
  • T2S (TARGET2-Securities) – projekt zainicjowany w 2006 roku przez Eurosystem, zmierzający do utworzenia jednolitej platformy umożliwiającej rozrachunek transakcji na papierach wartościowych w Europie, według zasady dostawa za płatność (DVP) przy użyciu pieniądza banku centralnego. Głównym założeniem projektu T2S jest obniżenie kosztów oraz usprawnienie krajowych i transgranicznych transakcji finansowych. Realizacja projektu T2S jest elementem integracji i harmonizacji europejskich usług rozliczania transakcji finansowych, która ma się przyczynić do eliminacji tzw. Barier Giovanniniego i tym samym do tańszego, szybszego i bardziej bezpiecznego dostępu do usług rozrachunkowych na europejskim rynku finansowym. Realizacja projektu przewidziana jest na lata 2008–2014. (pl)
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  • TARGET2-Securities (T2S) ist eine Plattform für die Abwicklung von Wertpapieren in der EU. (de)
  • Target2-Securities (T2S) è il motore di regolamento delle transazioni in titoli (securities), di proprietà dell'Eurosistema, approvato nel 2008 dalla BCE (Banca Centrale Europea) e attivo dal 2015. L'elemento qualificante di T2S è la presenza sullo stesso di conti in moneta di Banca Centrale (Dedicated Cash Account - DCA) per il regolamento del controvalore (c.d. gamba contanti della transazione in titoli). I DCA sono collegati a conti sui sistemi RTGS, tramite i quali ricevono e inviano liquidità. Dal 2018 il regolamento può avvenire anche in corone danesi. (it)
  • T2S (TARGET2-Securities) is a European securities settlement engine which aims to offer centralised delivery-versus-payment (DvP) settlement in central bank funds across all European securities markets. It is important to take note of the fact that T2S is not a central securities depository (CSD), but a platform intended to enable CSDs to increase their competitiveness. (en)
  • T2S (TARGET2-Securities) – projekt zainicjowany w 2006 roku przez Eurosystem, zmierzający do utworzenia jednolitej platformy umożliwiającej rozrachunek transakcji na papierach wartościowych w Europie, według zasady dostawa za płatność (DVP) przy użyciu pieniądza banku centralnego. Głównym założeniem projektu T2S jest obniżenie kosztów oraz usprawnienie krajowych i transgranicznych transakcji finansowych. Realizacja projektu przewidziana jest na lata 2008–2014. (pl)
rdfs:label
  • TARGET2-Securities (de)
  • TARGET2-Securities (it)
  • T2S (pl)
  • T2S (en)
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