The Central Bank of Malta, together with the European Central Bank and other European System of Central Banks national central banks, is currently involved in the design of TARGET2-Securities (T2S). T2S is a project which would make use of (or link with) the TARGET2 platform to settle the cash leg of securities transactions.

The objective of T2S is to maximise safety and efficiency in the settlement of euro denominated securities transactions. Safety is maximised by using the delivery versus payment mechanism. Efficiency is maximised by settling cash and securities on the same IT platform, according to the so-called integrated model. T2S will not be a Central Securities Depositories (CSD), but a ‘settlement platform’ providing services to CSDs.

Link to ECB TARGET2-Securities