GREECE: ATHEX Announces Migration of ATHEXCSD & ATHEXClear Services to the New ECB’s T2 RTGS System

Wednesday March 22 2023

Athens Exchange Group published a press release on successful migration of their clearing and settlement services to the new T2 Real-Time Gross Settlement (RTGS) system which was operationally launched by the European Central Bank (ECB) on Monday 20^th March 2023. The migration was successfully executed as part of the ECB’s T2-T2S Consolidation project, in close cooperation with ATHEXCSD Settlement Banks and Participants and ATHEXClear Clearing Members. Τhe Bank of Greece (BoG) coordinated the migration project in the Hellenic Market on behalf of ECB. 

The aim of the T2-T2S Consolidation project was to consolidate TARGET2 and TARGET2-Securities (T2S) operation and settlement processes for Participants and harmonise technical and functional aspects of the systems. T2 can now optimise liquidity management across all TARGET Services using the ISO 20022 messaging standard and facilitating payments in several currencies if the respective central bank decides to do so. 

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