Deutsche Börse successfully brings settlement volume to the Eurosystem

Migration completed with failure rate of 0% / First settlement day on ECB platform successfully concluded

The Central Securities Depository (CSD) within Deutsche Börse Group, Clearstream, completed its migration to the TARGET2-Securities (T2S) platform, run by the Eurosystem, with a failure rate of zero percent. Clearstream also successfully concluded its first settlement day on the new system. Thereby, the CSD transferred its Euro denominated domestic settlement business to the pan-European platform according to plan. T2S removes barriers and eliminates differences between domestic and cross-border settlement by offering a single market infrastructure solution.

Carsten Kengeter

With this important milestone, we successfully completed one of the so far biggest and most important projects”, said Carsten Kengeter, CEO of Deutsche Börse Group. He added: “T2S is far more than just a settlement platform. It represents a fundamental reshaping of Europe’s fragmented capital markets and serves as the infrastructure for the planned Capital Markets Union.

The successful migration of the German market onto the new settlement platform testifies to the long-standing strong partnership of Deutsche Börse, the European Central Bank, Deutsche Bundesbank as well as other National Central Banks and migrating CSDs in their joint effort to create a harmonized settlement landscape for Europe.

For customers of Deutsche Börse Group, the benefits of T2S go far beyond cross-border settlement efficiency. Improvements will result in greater mobility of collateral and reduce risks in the financial system, thus contributing to stability. Clients are now able to consolidate all eligible assets at Clearstream; thus only needing one point of entry to all European markets.

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