Banks, Broker-Dealers Falling Behind on T2S Preparation

T2S is envisaged as a pan-European settlement platform, created and operated under the aegis of the European Central Bank, which will harmonize settlement processes across the continent and facilitate cross-border transaction. The project is closely related to the move to T+2 settlement, or two days after trade date, as mandated by policy such as the Central Securities Depositories Regulation (CSD Reg)

The European Post-Trade Ecosystem Under T2S, sponsored by Swift, says that while the larger