Brussels, 22/06/2015 (Agence Europe) - The ECB announced that the T2S, a platform that will enable integrated securities settlement across Europe, went live as planned on Monday 22 June.
Over the weekend, a first group of securities depositories and their user communities from Greece, Malta, Romania and Switzerland migrated to the new platform. Italian markets will follow on 31 August. Migration will continue in stages until Febuary 2017 and will be fully deployed across a total of 21 European countries. From 2018 onwards, T2S will process transactions in Danish kroner.
Managed by the central banks of Germany, France and Spain for the eurozone central bank Eurosystem, T2S will encourage integration of financial markets in Europe and “sharply cut the cost of securities transactions across European borders while making them more secure,” explains the European Central Bank in a press release.
For further information, see: http://www.t2s.eu (Mathieu Bion)