T2S faces its first real test

by Jean-Michel Godeffroy

At the Sibos event in Hong Kong last autumn, as well as in the Euro Finance Week in Frankfurt, I warned that the additional seven months required to validate the General Functional Specifications had eliminated many of the buffers that had been available in the project plan.

Project update

by Helmut Wacket

The autumn and winter seasons have been very intense with the publication of three key technical documents (GFS, GTD and GS), with the definition of the migration strategy and the adoption by the ECB Governing Council of five Eligibility criteria for CSDs in T2S.

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Interview with Guido Ravoet

The view of Guido Ravoet, the Secretary General of the EBF, on project assessment, governance structure, and the role of users. more

T2S challenges and opportunities: the view of a CSD

by Johannes Luef

Johannes Luef, President and CEO of VP SECURITIES A/S, offers many hints on what are the actual challenges and opportunities of T2S. more

The financials of T2S

by Marc Bayle

One of the cornerstones of the T2S legal architecture is the Framework Agreement. It will formalise and regulate the relationship between the Eurosystem and the CSDs. It will bring them together in order to plan future work and make the necessary investments. Given its significance, it will be crucial to get it right.

Introducing the T2S team

The Governing Council of the ECB has assigned the development and operation of T2S to four central banks, namely the Deutsche Bundesbank, Banco de España, Banque de France and Banca d'Italia, commonly referred to as the 4CB. In this issue of the T2S OnLine you will know more about their internal organisation.