sk sk

TARGET services

gif

TARGET Services are a number of services developed and operated by the Eurosystem which ensure the free flow of cash, securities and collateral across Europe.

TARGET services include:

  • TARGET2 – is the real-time gross settlement (RTGS) system
  • T2S (TARGET2-Securities) – is the securities settlement platform
  • TIPS (TARGET Instant Payment Settlement) – is the instant payment settlement service

The Eurosystem has launched a project to consolidate TARGET2 and T2S, in terms of both technical and functional aspects. The objective is to meet changing market demands by replacing TARGET2 with a new real-time gross settlement (RTGS) system called T2 and optimising liquidity management across all TARGET Services. The new consolidated platform will be launched in November 2022. Then the Eurosystem will launch a new system ECMS in november 2023. At present, DCA accounts within the T2S platform and the TIPS service are legally part of the TARGET2-SK payment system.

gif gif gif

For more information about TARGET Services, visit the following websites:

https://www.ecb.europa.eu/paym/target/html/index.en.html