Eighth T2S harmonisation progress report : advisory group on market infrastructures for securities and collateral

TARGET2-Securities (T2S) is a pan-European platform for securities settlement, developed and operated by the Eurosystem. By September 2017, 22 central securities depositories (CSDs), covering 20 European markets had joined the platform, and now settle euro securities transactions in T2S. The Danish kroner will also be available as a settlement currency in T2S from October 2018. T2S contributes significantly to the integration of financial markets in Europe by harmonising post-trade processes across all participating markets. The extent to which the potential benefits of T2S will materialise depends largely on all relevant stakeholders adapting to and using T2S in a harmonised manner. For this reason, both the Eurosystem and the Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo, which also represents the T2S Community) consider post-trade harmonisation to be a central objective of T2S.