Legal documentation

Framework Agreement - FA

The Framework Agreement is the basic contract governing the implementation of T2S, signed by the Eurosystem and each of the central securities depositories (CDS) participating in the project.
It sets out all rights and obligations of the Eurosystem and of participating CSDs. It was validated by the Governing Council on 17 November 2011 and between November 2011 and June 2012 was signed by the 22 CSDs taking part in T2S.

Currency Participation Agreement - CPA

The CPA governs the relationship between Eurosystem central banks and non-euro area central banks participating in T2S in their own national currency. It was validated by the Governing Council on 23 February 2012. The Central Bank of Denmark is currently the only non-euro area central bank to have agreed to take part in T2S, as of 2018.

T2S Guideline

This is the cornerstone of the legal framework for the T2S project. It defines the respective roles and responsibilities of the T2S Board and the 4CB, as well as the relationship between them and with external stakeholders. It also defines the basic principles for the financial system, the Eurosystem’s rights with regard to the platform, access conditions for CSDs and eligibility criteria for non-euro area CSDs. It was adopted by the Governing Council on 21 April 2010.

Operating documentation

Autorisation and Interoperability tests

These documents list the tests to be performed by the participants to prove that they have tested the functionalities of Target2-Securities (T2S) that they will use in production.

Choose the authorisation and interoperability tests in the "Testing" section of the Release SSP. 

Updated on: 06/12/2018 10:33