ECB approves major financial infrastructure programmes

The ECB's Frankfurt headquarters
Annabel Jeffery

The governing council of the European Central Bank has agreed on two major projects to change the eurozone’s financial market infrastructure, it announced on December 7.

Target2, the real-time gross settlement system, and T2-Securities, the securities settlement platform – which are both used by the Eurosystem of the ECB and the eurozone’s national central banks – will be merged, the ECB said.

The new merged settlement system should be launched in November 2021. It will give market

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