ECB delays launch of new RTGS system and T2 consolidation

ECB + bridge

The European Central Bank (ECB) announced today (October 20) it will delay the launch of its new real-time gross settlement (RTGS) system.

Initially scheduled to go live on November 20, it is now expected to become active on March 20, 2023.

The initiative aims to consolidate the RTGS system and the Eurosystem’s securities settlement platform, with the aim of increasing harmonisation in European financial markets. It also unifies the Target 2 (T2) and Target2-Securities (T2S) platforms.

The

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