Focus Session – TARGET Services: A glance into the future
Thursday, 22 May 2025
10:00-12:00
Online event
Programme
- 9:50
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Registration and login
- 10:00
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Practical information
- 10:10
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Welcome address
The go-live of the Eurosystem Collateral Management System (ECMS) on 16 June 2025 adds the final piece of the Eurosystem’s puzzle to create a more integrated and innovative European financial infrastructure, as outlined in 2015. Learn more about where we stand today and where we are heading to as we take a glance into future initiatives regarding the TARGET Services.
- Ulrich Bindseil, Director General, Market Infrastructure and Payments, ECB
- 10:20
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T2/TIPS: Non-banks payment service providers access to T2 and TIPS
As of October 2025, non-bank Payment Service Providers (PSPs) meeting certain requirements will be able to access T2 (for settling payments) and TIPS (for settling instant retail payments), following the adopted policy of the Eurosystem. Find out more on the requirements and preparatory work to ensure their onboarding to TARGET and the related amendments to the TARGET Guideline.
- Sylvain Debeaumont, Head of Market Infrastructure Management Division, ECB
- 10:40
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TIPS: Improving cross-border payments
The Eurosystem is exploring initiatives to help improve cross-border payments within the EU and beyond. Learn more on the status of the implementation of a cross-currency settlement in TARGET Instant Payment Settlement (TIPS).
- Karen Birkel, Head of Market Infrastructure Development Division, ECB
- 11:00
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T2S: T+1 initiative
In order to achieve the objective of further promoting settlement efficiency in the EU, a potential move to a shorter standard securities settlement cycle, namely T+1 is envisaged. Gain insight on the potential implications on the TARGET2-Securities (T2S) to facilitate the transition to T+1.
- George Kalogeropoulos, Deputy Head of Market Infrastructure Development Division, ECB
- 11:20
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ECMS: Operational aspects
The ECMS becomes the fourth TARGET Service in operation on 16 June 2025. Learn more about the system’s key operational features once the ECMS is live.
- Irene Katsalirou, Deputy Head of Market Infrastructure Management Division, ECB
- 11:40
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Closing remarks
- Dimitri Pattyn, Deputy Director General, Market Infrastructure and Payments, ECB
- 12:00
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End of event
This programme may be subject to change without notice.
Audiovisual notice: The entire Focus Session will be live streamed, recorded and published on the ECB’s website shortly after the event, together with the slides presented.