Euro Market: TARGET2-Securities

The European post-trade industry is undergoing changes at a rapid pace which will drastically alter the operations of market participants. The market infrastructure initiative TARGET2-Securities (T2S) is run by the European Central Bank (ECB) and is the most challenging project the post trade industry has to face over the next two years. This is the first time central securities depositories (CSDs) are outsourcing an aspect of their functionality to a common platform and these players have to reshape their operating and business models.