Settlement

T2S platform is managed by ECB that provides settlement services and harmonizes the settlement procedures in all markets

T2S grants DvP Regulation in real-time Central Bank currency through the use of an "integrated model":  the cash and securities are managed through a single IT platform, so the national central banks define specific cash accounts (DCA - Dedicated Cash Account) in which
users can exchange cash with the payment system T2 (currency EUR).

The settlement service provides all the features of T2S platform both DCP that ICP and in particular:

  • Cash and securities account management
  • Multicurrency management, not only EUR
  • Transaction lifecycle management, from validation to settlement
  • Matching and related functionalities, such as the Hold/Release mechanism
  • Auto-collateralization, both ‘on stocks’, using securities already available on the accounts, and ‘on flows’, using the securities of the transaction to be settled
  • Information services

 T2S Wave 3 Migration Week End Dress Rehearsal: operational process

CAOF OTC Test Plan vers.1.0_29/07/2016 

PCT Buy Sell Back: reinvestment of coupon - test plan vers 1.0_03/08/2016