ECC would like to inform Clearing Members and auctioneers about the next steps to prepare for the testing activities related to the T2-T2S consolidation project and the necessary cooperation obligations.
Based on the timeline and milestones set by the European Central Bank, ECC is planning a member simulation campaign for Clearing Members and auctioneers, which will start on 13 June 2022.
In order to participate in the planned test activities and also to continue to participate in cash settlement activities with ECC after Target2 consolidation in November 2022, it is necessary that Clearing Members and auctioneers or their respective settlement banks that are Target2 participants are registered in ECC's Settlement Bank Account Group.
Further information on the member testing campaign and the process of the Settlement Bank Account Group registration is provided in this circular.
European Commodity Clearing AG
Clearing & Settlement
Phone: +49 341 24680-444