Euroclear Finland has successfully migrated to the European Central Bank’s (ECB) TARGET2-Securities (T2S) settlement system.  Since 11 September 2023, all Finnish securities that are in the register of Euroclear Finland have been settled on T2S. Five new central securities depositories (CSDs) joined T2S, as Euroclear Bank, one Croatian CSD and two Bulgarian CSDs migrated at the same time as Euroclear Finland.

TARGET2-Securities (T2S) is the Eurosystem’s centralized settlement platform, providing settlement in central bank money across European securities markets.  Most of the Euro countries are already part of the T2S system. As an integrated settlement model for Europe, T2S aims to reduce European fragmentation and make central bank money securities settlement more efficient by helping to reduce risk and increase liquidity and by fostering a more attractive European capital marketplace. 

Euroclear Finland’s clients (banks, central counterparties and issuers) will benefit from longer trading hours. In addition, parties to trade will have reduced risks and enhanced liquidity and collateral management. Banks can operate on all T2S markets with the same cash account. 

Euroclear Finland CEO, Hanna Vainio commented: “We are extremely pleased to have achieved this milestone together with the market after a 10-year journey. We have made significant investments into the Finnish CSD system to meet the common European standards and operating models. This has been a remarkable joint effort between the issuers, ECB and industry participants with a common goal to drive efficiencies and grow the Finnish market.” 

More information

Euroclear Finland communications