Successful deployment of release 6.0 of TARGET2-Securities

6 July 2022

The new release (R6.0) of the TARGET2-Securities (T2S) platform was successfully deployed on 2 July 2022. This also marks a key milestone in the T2/T2S consolidation project.

The new software release of the T2S platform incorporates a number of components into T2S that are shared across all TARGET Services, such as the single communication interface (the Eurosystem Single Market Infrastructure Gateway – ESMIG) and the Common Reference Data Management (CRDM) component. This is the first step in the technical and functional consolidation of the real-time gross settlement (RTGS) system and the securities settlement platform. The successful deployment is a key milestone in the consolidation project.

The final step in the consolidation project is the replacement of the current TARGET2 with a new RTGS system (T2) in November 2022. The T2 system will use the messaging standard ISO 20022 and facilitate payments in several currencies, which is already the case for T2S. In addition, the T2/T2S consolidation project includes the Central Liquidity Management (CLM) tool, which will allow participants to steer, manage and monitor central bank liquidity across all TARGET Services. Read more about the project here.