T2-T2S consolidation: FAQs on migration, testing and readiness

The successful go-live of the T2-T2S consolidated platform depends on the timely preparations of all parties involved in the T2-T2S consolidation project. To ensure a better understanding of the migration strategy and its specific activities, the ECB has prepared a document with frequently asked questions (FAQs) on migration, testing and readiness ahead of the T2-T2S consolidation.

The FAQs cover all of the information that T2 participants (banks and ancillary systems) need to take into account. This includes information on the overall migration strategy and the key project milestones, as well as details on service providers, connectivity, migration rehearsals and the organisation of the migration.

The T2-T2S consolidation is a large-scale market infrastructure project to meet changing market demands by replacing TARGET2 with a new real-time gross settlement system called T2 and optimising liquidity management across all TARGET Services.