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Virtual Sibos 2021

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Meet the Experts session

12 October 2021 | 11:30 CET

The European collateral management system migration is approaching and its impacts may be wider than expected.

Mario Mendia and Roberto Bruschi at Sibos 2021

 Speakers:

 Mario Mendia

 Roberto Bruschi

T2/T2S Consolidation:
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 2022. 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.

 

See below the updated milestones for the Consolidation Roadmap.

Eurosystem milestones

 

Consolidation Roadmap

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.

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.

Since 2019, with our partners KPMG Advisory Services Italy and Accenture we have been assisting banks in facing the T2/T2S Consolidation migration, a challenging multi-year project mandated by the Eurosystem. Together, we share expertise and insights to achieve significant improvements in the complex new scenario.

Over 40 Commercial Banks and 1 Central Bank have already adopted our solutions to prepare for the Consolidation migration. We are now ready to put our experience and expertise to work for you.

 Read the Press Release to know more on our market presence

 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) and create a single access for customer connectivity through the new Single Market Infrastructure Gateway (ESMIG)
  • Unify the Eurosystem ancillary services (Billing, Static Data, Data Warehouse)
  • Innovate and improve liquidity management tools
  • Improve liquidity efficiency with a single pool of resources  across T2, T2S and TIPS
  • Support settlement finality / segregation for High Value Payments , Securities, Instant Payments, Monetary Operations
  • Extend business hours
  • Enable the offering of modular services
  • Increase cyber security

Additional benefits

  • Unified accounting structure, with leading-edge services and operations, new technology for messages and new competition for networks
  • Integration with ECMS, live in 2023, to provide collateral cross border mobility on the same infrastructure across the euro area
Resources