The largest T2S migration wave ever was sucessfully completed. By Thomas Rosmanitz, Head of Relationship Management Austria, GSS Austria
Early February, the latest TARGET2-Securities migration wave took place. This effort was unprecedented in terms of both the number of CSDs involved and the increase in settlement volumes.
As anticipated, 6 February was the first operational day on T2S for the clients of six central securities depositories from Austria (OeKB CSD), Germany (Clearstream), Hungary (KELER), Luxembourg (Lux CSD), Slovakia (CDCP) and Slovenia (KDD).
Following the successful migration over the weekend before, the volume of securities transactions now settled on the platform has almost doubled.
18 CSDs, representing 16 markets, are now settling securities transactions on the pan-European platform. T2S is thus making a solid contribution to post-trade integration in Europe.
Thomas Rosmanitz
Head of Relationship Management Austria
GSS Austria
thomas.rosmanitz@unicreditgroup.at