Moving Ahead With Target2-Securities

Strong Governance "Has Kept Us On Track"

Marc Bayle, director general of market infrastructure and payments, European Central Bank (ECB)

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

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