Target2-Securities: Wave Two on Course for Launch as Precursor to Arrival of Euroclear

Focus on learning historic lessons for preparation of second migration wave to pan-European settlement platform.

A map of Europe lit up and connected with dotted lines
The second migration wave for Target2-Securities will take place on March 28, with wave three scheduled for September.

T2S launched its first migration wave in June last year as the Romanian, Maltese, Swiss and Greek markets joined the European Central Bank (ECB) project to harmonize Europe's securities settlement landscape through a unified platform.

At a BNP Paribas Securities Services event this week, a panel of speakers outlined what has been learned from the first migration wave and where the main challenges lie ahead of wave two on March 28.

"To ensure the migration is a true success, we collectively need

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