Last month, Target2-Securities (T2S), the Eurosystem-wide platform for centralized securities transactions settlements, went into its user testing phase.
There have been software bugs, delays and concerns over pricing, but the eight-year journey to a pan-European platform that will allow settlements in central bank money has been "a good adventure", says Marc Bayle, Frankfurt-based director general of market infrastructure and payments at the European Central Bank (ECB). The first of four waves
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails