The European Central Bank’s (ECB) Target2-Securities (T2S) project has proved to be a controversial topic for some time and news this month that the launch of the new pan-European settlement system may be delayed by up to a year is unlikely to change matters. The ECB has confirmed that it has completed the approval process for the project’s general specifications, but the central bank has indicated it will be updating its programme plan at the end of February, which is rumoured to include a postponed launch date.

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It may not have got off to the most auspicious start when it was first announced in 2006, but it seems that Risk & Regulation IT readers are now convinced that the European Central Bank’s (ECB) Target2-Securities (T2S) project will be a positive step forward for the clearing and settlement environment in Europe.

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When it was first announced in 2006, the European Central Bank’s (ECB) Target2-Securities (T2S) project was met with a combination of suspicion and derision by the industry. Three years on and it seems that market participants have finally accepted it as an inevitable reality. However, many of the details about how it will function when it launches in 2013 remain unclear.

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