The Target2-Securities (T2S) programme aims to accelerate the restructuring the EUs clearing and settlement infrastructure. Target2-Securities will be a platform for the cross-border and domestic settlement of securities against central bank money. The platform will service the Central Securities Depositories, being run by the Eurosystem, the monetary authority of the Eurozone. The T2S Programme Board will include eight members which are to be selected from the nominees from central banks participating in the T2S project and independent members with experience in the securities settlement domain. A senior ECB manager will be appointed as chairperson.
The T2S Programme Board will start its activity in May 2009.
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