TARGET2 Securities

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TARGET2-Securities is a project of the Eurosystem launched in 2006 aimed at creating a single IT platform for the settlement of securities in euro central bank money. The settlement platform would be operated by the European Central Bank (ECB) with the objective of reducing the cost of cross-border securities settlement within the euro area. The idea of the ECB is to use the TARGET2 platform for cash payments as the technical basis for the new settlement engine.

The user requirements phase, launched in May 2007, is running until April 2008. In early 2008, the ECB Governing Council will take a final decision on whether to go ahead with the project and launch the development phase. The platform should not be operational before 2013.

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