Market Change
TARGET2-Securities (T2S)
Citi is an active participant in the governance of the T2S project and is a member of the Advisory Group, all six Technical Groups, and the Project Team. Moreover, our contribution to National User Groups ensures we actively represent our markets.
| T2S explained TARGET2-Securities is an initiative launched by the Eurosystem in JULY 2006. It IS a single IT platform for the settlement of securities in central bank money in Euro and potentially other currencies. The objective is to improve the efficiency and safety of securities settlement, especially cross-border. T2S has the strong support, with important conditions, from banks doing business in Europe including Citi. On 8 March 2007 the governing council of the ECB decided that T2S is feasible and the project could proceed to the user requirements definition stage. Subject matter experts from market participants, securities market infrastructures and central banks in the Eurosystem are now drafting the user requirements, which will be finished at the end of 2007. There will be a 3-month public consultation in early 2008, after which the governing council of the ECB will decide whether or not to build T2S. |
