CAPITAL MARKETS & TREASURY

Discover more about the
T2/T2S Consolidation Interbank Working Group meetings, chaired by TAS Group in partnership with Accenture and KPMG.

Don't miss our webinar
"Can T2/T2S Consolidation
be a digital transformation opportunity for Liquidity Management in banks?
"
in collaboration with KPMG and Accenture.
 
 
 
 
T2/T2S Consolidation Webinar 

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T2/T2S Consolidation:
the perfect opportunity to take your liquidity management to the next level  

 

The Eurosystem Consolidation project, which is set to unify and revolutionize central settlement systems for cash, securities and collateral, represents a major change for the European Financial Industry. The ambitious project will enable extended hours of settlement and deliver increased efficiencies, supporting an ever more integrated financial market infrastructure in Europe and guaranteeing a higher level of security and improved usability.

The new system will go live in November 2021 with a big-bang migration and any participant not ready by this date will be excluded from central bank monetary operations, unable to pay or be paid in CB money or perform ancillary system settlements.

With its major impact on the bank and multi-annual capital budget, the Consolidation project presents a clear opportunity for those who haven’t yet worked on adopting ISO20022, automating tasks, integrating information, scaling up their applications in real-time and forecasting through adaptive intelligence. It is a huge opportunity for banks to optimize their liquidity management.

Readiness of the Banks - Main Tasks and Milestones

Readiness of the Banks - Main Tasks and Milestones

Source the ECB: https://www.ecb.europa.eu/paym/initiatives/shared/docs/581cd-ami-pay-2019-05-14-item-3-t2-t2s-consolidation-enhanced-list-of-key-milestones.pdf 

 

TAS Group has been helping Commercial and Central Banks in the Eurosystem harmonization process for over 20 years, starting with the domestic RTGS migrations towards TARGET and gradually expanding into T2, T2S and Collateral management infrastructures at ECB level. We are now ready to put our experience and expertise to work for you.


 Discover Aquarius, our comprehensive solution to meet the T2/T2S Consolidation challenges.


 Get in touch with our experts to learn how we can support you with the Consolidation project and help you to futureproof your liquidity management.

Project objectives

  • Consolidate the Eurosystem settlement infrastructures for payments and securities
  • Harmonize data formats (ISO2002) to create a single access for customer connectivity through the new Single Market Infrastructure Gateway (ESMIG)
  • Unify the Eurosystem services (Billing, Static Data, Data Warehouse)
  • Innovate and improve liquidity management tools
  • Improve liquidity efficiency with a single pool of resources and the aggregated ROB across T2, T2S and TIPS
  • Develop settlement finality / segregation for HVP, securities, instant payments, CB monetary operations
  • Extend business hours (maintenance window from 00:30 to 02:30, except for TIPS 24x7x365)
  • Enable the offering of modular services
  • Increase cyber security

Additional benefits

  • Guarantees a more modern real-time gross settlement system, integrated with securities and instant payments settlement
  • Provides treasurers with a single pool of Central Bank liquidity
  • Introduces a new, unified accounting structure, with leading-edge services and operations, new technology for messages and new competition for networks
  • Consolidation will be immediately followed by ECMS implementation in 2022, providing collateral cross border mobility on the same infrastructure across the euro area
Resources