The phrase “a borderless, neutral single market for securities across Europe” is
one that appears regularly throughout all communications on settlements services
from the European Central Bank (ECB) and European Commission.
In fact, it appeared a lot last Friday,
when the ECB released two key documents: the TARGET2 for Securities (T2S) User
Requirements and Collateral Central Bank Management (CCBM2) User Requirements
(863
page, 4.4MB and 201
page, 1.5MB pdf document download respectively).
The importance of these two announcements, in the context of
Clearing and Settlement, cannot be stressed enough as the combination of T2S and
CCBM2 are intended to create this "borderless, neutral single market for
securities across Europe" by creating a single infrastructure for counterparty
liquidity and collateralisation.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
