ECB declares VP as T2S ready
This week (18.08.2016) the Governing Council has accepted the application of VP SECURITIES and VP LUX to access T2S services. As part of the preparations for T2S, ECB’s Governing Council for the T2S project has formally approved VP. This is our final step to join T2S as planned 12 September.
The final assessment covered:
- 5 eligibility criteria for Central Securities Depositories to access TARGET2-Securities services
- 24 harmonisation initiatives to ensure the T2S environment and maximise its efficiency
- Thorough assessment of the IT systems and infrastructure
VP and our clients have successfully completed all the testing and ensured the alignment of processes. The Governing Councils acceptance of our application confirms, that in terms of harmonisation, IT and legal aspects we are ready for the pan-European settlement platform T2S.