Banks declare themselves T2S-ready

The vast majority of banks have declared themselves ready for the pan-European settlement platform TARGET2-Securities (T2S), according to a study conducted by Accenture together with Clearstream. The survey examined, inter alia, specific T2S strategies and the confidence of firms in their T2S readiness as well as that of their partners, their plans to connect to the platform, and which areas of their organisation are most affected by the new settlement engine.

“The launch of the T2S platform has been a success,” said Marc Robert-Nicoud, CEO of Clearstream Holding. “Although the market struggled with some delays in the migration timetable, the system now operates in accordance with the schedule.” Clearstream and LuxCSD will participate in migration wave four on February 6 next year.