Last Updated September 29, 2008
Target-2 initiative raises concerns among CSDs
The ECB recently announced the launch of its Target-2 Securities project, which will see the creation of a new centralised platform for the settlement of securities against euro cash. But the initiative continues to see voiced concerns from central securities depositories (CSDs) as well as industry bodies representing banks, issuers and investors, writes Liz Salecka.
Banks, issuers and investors, conducting securities transactions that are settled against euro cash, could benefit from up to one third off their settlement fees in the future now that the European Central Bank’s (ECB) proposal for a centralised, settlement platform – Target-2-Securities (T2-S) – has been given the green light.
