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

The Eurosystem Market infrastructure has recently gone through unprecedented changes: with T2S, TIPS, ESMIG and the Target2 Consolidation we are seeing quite a revolution, maybe for this reason the last step of the programme, ECMS, seems far from the industry spotlights.
The Migration to the European Collateral Management System will mandatory happen in November 2023, with consequences and impacts that may be wider than expected.

Based on ISO20022 standards, with ECMS the central banking collateral mobility takes a step forward, integrates with T2S and Triparty services, providing the opportunity of smoother funding across Europe but requiring higher cybersecurity standards from all participants, new billing standards (CMH-TF) to CSDs and Custodians and better visibility of available liquid assets across the bank’s different businesses.

Many banks have already completed their ECMS assessment: can they afford this evolution keeping manual activities and fragmented processes or does their collateral management need a digital acceleration?


Mario Mendia speaks at Sibos 2021 

Mario Mendia

Senior Vice President - TAS Group


Roberto Bruschi speaks at Sibos 2021


Roberto Bruschi

Executive Subject Matter Expert Capital Markets and Treasury - TAS Group