TARGET consolidation: Timeline
The Governing Council of the ECB has decided to extend the timeline of the T2-T2S consolidation project by one year, following discussions with Europe’s financial community. The project is now scheduled to go live in November 2022. User Testing will start in December 2021. The timing of other project milestones is currently under review.
The ECB’s Governing Council approved the consolidation project on 6 December 2017 and the final user requirements were published. In addition, a new contact group consisting of market representatives, central banks and providers of the future services was established.
The TARGET consolidation contact group informs and advises on planning, functional and technical specifications, user testing, migration and change management activities related to the project.
Timeline
| 2020 | |
|---|---|
| 31 Mar | IAD4: Internal applications documentation – complete |
| 31 Mar | IAD5: Software development for the required adaptation changes to T2 – start |
| 30 Jun | IAD7: Participant testing of internal applications - start |
| 31 Jul | NSP3: Network Service providers (NSPs) selection and contract preparation – complete |
| 31 Oct | IAD6: Software development for the required adaptation changes to T2 – complete |
| 31 Oct | NSP4: NSPs procurement – complete |
| 31 Dec | IAD8: Participant testing of internal applications – complete |
| 31 Dec | NCO1: Network connectivity tests – start |
| 2021 | |
|---|---|
| 28 Feb | NCO2: Network connectivity tests – complete; User testing activities – start |
| 30 Sep | UTA: User testing activities – complete |
| 30 Sep | CLA: Contractual and legal adaptations – complete |
| 30 Sep | IST: Internal staff training – complete |
| 30 Sep | OPA: Operational procedure adaptations – complete |
| 1 Oct | MAP: Migration activities on production environment –start |
| 5 Nov | MAE: Migration activities – complete |
| 22 Nov | GLI: Go-live T2 system |