One year on T2S with DKK

One year ago, today, the Danish Kroner (DKK) made its debut on the TARGET2-Securities (T2S) platform.

29.10.2019

When we take a look back at the year that has transpired, we can see that we are at a completely different place today. Over the past 12 months, we have made many improvements, both large and small, and now we can see that 98 per cent of all trades on the T2S platform are settled on time. That is the highest it has been during this entire process, and a significant accomplishment.

One of the key factors that has brought us this far is the hard work and collaboration of everyone involved to address the situation after Go live. This type of progress would not have been possible without our customers’ high involvement and the open dialogue during the whole process.

Now is the time to look ahead. We will use the fourth quarter to continue improving the settlement processes across the VP and T2S platforms, and work on harmonising the process for market claims and transformations. Then, with the new year, the focus will shift to the Harmonised Settlement Model. This model, is the natural progression of our work up until this point, and everything that we’ve learnt over the past year will help us to take the next step towards further harmonisation.

2020 will be an exciting time for the Danish market, and I look forward  to seeing what we can accomplish together, as we try to capitalise on the T2S platform’s potential and make the best use of it for both investors and issuers.

Niels Olsen

Fact: A year in numbers

Platform

Share of total settlement

Total market value traded

Share of total market value traded (DKK)

VP settlement

67%

17.677 mia. DKK

31%

T2S settlement

33%

38.547 mia. DKK

69%

Note: The T2S platform has a 33 per cent share of the total settlement today – this is higher than the expected 20-25 per cent. This illustrates the need to develop a solution that effectively supports the interaction between the two platforms.

Niels Olsen

CEO

+45 2114 2141
Follow me See profile

"A strong focus on reliability is a must when we invest in the future"

- Niels Olsen, CEO