Clearstream Joins Target2–Securities in Fourth Migration Wave

The industry's largest central securities depository completes its migration to the pan-European platform, alongside CSDs from Hungary, Slovakia, Slovenia and Austria.

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T2S aims to create a harmonized pan-European platform for securities settlement.

The largest central securities depository (CSD) to join the platform completed its migration, alongside the CSDs of Hungary (Keler), Slovenia (KDD), Slovakia (CDCP) and Austria (OeKB), comprising the fourth wave of scheduled migrations, due to finish in September this year. The arrival of Clearstream adds 40 percent to the overall volume on the ECB's settlement platform. The successful migration of Clearstream, as the largest volume provider, means the ECB's platform now handles double the pr