TARGET consolidation: Timeline
The Governing Council of the ECB has decided to extend the timeline of the T2-T2S consolidation project by one year, following discussions with Europe’s financial community. The project is now scheduled to go live in November 2022.
The ECB’s Governing Council approved the consolidation project on 6 December 2017 and the final user requirements were published. In addition, a new contact group consisting of market representatives, central banks and providers of the future services was established.
The TARGET consolidation contact group informs and advises on planning, functional and technical specifications, user testing, migration and change management activities related to the project.
Timeline of upcoming milestones
|1 Mar||IAD7: Testing of the internal applications started|
|31 Mar||NSP3: Network service provider selection and contract preparation completed|
|30 Jun||IAD6: Software development for the required adaptation changes to T2 completed|
|30 Jun||NSP4: Network service provider procurement completed|
|31 Aug||IAD8: Testing of the internal applications completed|
|1 Sep||NCO1: Network connectivity tests started|
|1 Sep||IST1: Training for user testing started|
|30 Nov||IST2: Training for user testing completed|
|30 Nov||NCO2: Network connectivity tests completed|
|1 Dec||UTA1: User testing activities started|
|1 May||NCP1: Network connectivity tests on production started|
|31 Jul||NCP2: Network connectivity tests on production completed|
|22 Aug||MIG1: Pre-migration activities started|
|30 Sep||UTA2: User testing activities completed|
|30 Sep||CLA: Contractual and legal adaptations completed|
|30 Sep||OPA: Operational procedure adaptations completed|
|31 Oct||MIG2: Pre-migration activities completed|
|21 Nov||GLI: Go-live T2 service (first business day)|