Consolidation project: Eurosystem Acceptance Testing initiated

The T2-T2S consolidation project moves ahead with the Eurosystem Acceptance Testing (EAT) phase, after the successful connection of the system to the Eurosystem Single Market Infrastructure Gateway (ESMIG). The objective is to check whether the services offered by the new platform meet the requirements of its users. During the EAT phase, the system will first be tested by the ECB, before the central banks of the Eurosystem start their tests on 4 January 2021.

The T2-T2S consolidation project aims to harmonise certain functional aspects of the Eurosystem’s market infrastructures with a view to achieving greater integration of financial markets in Europe. With this project, TARGET2 will be replaced by a new real-time gross settlement (RTGS) system and liquidity management will be optimised across all TARGET Services. The T2-T2S consolidated platform is due to go live in November 2021.