Clearstream: Still work to be done on T2S
March 16, 2017

There is much work still to be done to make TARGET2-Securities work, according to notes in the most recent monthly report from Clearstream. Early success in implementation and roll-out needs to be followed up by full market integration, it observes.

"The technical integration of the European settlement systems can only be a first step," says Marc Robert-Nicoud, Chief Executive Officer of Clearstream Holding AG, which successfully migrated to T2S earlier this year. "Now, the integration on market level has to follow lead. This is the only way how T2S can live up to its original promise: to make cross-border settlement easier and more efficient for market participants."

In recent years there have been many efforts to harmonize Europe's financial markets, the ICSD continues. Currently strained political relations between EU member states and third countries, nationalistic tendencies as well as the looming Brexit are subjecting the Capital Markets Union (CMU) project to severe stress. Against the current political backdrop, it is key for policy makers and stakeholders to focus on the execution of CMU objectives.





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There is much work still to be done to make TARGET2-Securities work, according to notes in the most recent monthly report from Clearstream. Early success in implementation and roll-out needs to be followed up by full market integration, it observes.

"The technical integration of the European settlement systems can only be a first step," says Marc Robert-Nicoud, Chief Executive Officer of Clearstream Holding AG, which successfully migrated to T2S earlier this year. "Now, the integration on market level has to follow lead. This is the only way how T2S can live up to its original promise: to make cross-border settlement easier and more efficient for market participants."

In recent years there have been many efforts to harmonize Europe's financial markets, the ICSD continues. Currently strained political relations between EU member states and third countries, nationalistic tendencies as well as the looming Brexit are subjecting the Capital Markets Union (CMU) project to severe stress. Against the current political backdrop, it is key for policy makers and stakeholders to focus on the execution of CMU objectives.



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