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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

30 Jun CSLD.IAD6: Software development for the required adaptation changes to RTGS, CLM and the common components completed
30 Jun CSLD.NSP4: Network service provider procurement completed
31 Aug CSLD.IAD8: Testing of the internal applications completed
1 Sep CSLD.NCO1: Network connectivity tests started
1 Sep CSLD.IST1: Training for user testing started
30 Nov CSLD.IST2: Training for user testing completed
30 Nov CSLD.NCO2: Network connectivity tests completed
1 Dec CSLD.UTA1: User testing activities started
1 May CSLD.NCOP1: Network connectivity tests on production started
31 Jul CSLD.NCPO2: Network connectivity tests on production completed
22 Aug CSLD.MIG1: Pre-migration activities started
30 Sep CSLD.UTA2: User testing activities completed
30 Sep CSLD.CLA: Contractual and legal adaptations completed
30 Sep CSLD.OPA: Operational procedure adaptations completed
31 Oct CSLD.MIG2: Pre-migration activities completed
21 Nov CSLD.GLI: Go-live (first business day)

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