Focus Session in Paris

Welcome address

Denis Beau, Deputy Governor of the Banque de France

Advancing the European market infrastructure

The new TARGET Services logo covers all services offered by the Eurosystem to market stakeholders in relation to cash, securities and collateral. Mehdi Manaa (European Central Bank – ECB) will give an overview of the current state of play and introduce the programme of the day.

Theme one: Retail payments

TARGET Instant Payments Settlement (TIPS)

The development of TIPS is progressing according to plan, and the service is scheduled to go live in November 2018. In this interactive Q&A session you will learn more about the technological and functional aspects of TIPS and have the opportunity to ask any specific questions.

Speakers:

• Karen Birkel, ECB
• Lorenzo Giammo, Banca d’Italia

Theme two: High-value payments

The Eurosystem is reshaping its market infrastructure services by consolidating the technical and functional aspects of TARGET2 and T2S. The aim is to improve efficiency, optimise operational costs and increase cyber resilience.

TARGET2 and T2S consolidation – cash perspective

Gain more insight into how the Eurosystem wants to enhance its real-time gross settlement system and centralise liquidity management for all its market infrastructure services.

Speaker: Karen Birkel, ECB

TARGET2 and T2S consolidation – securities perspective

How will the consolidation project affect the central securities depositories (CSDs) that have connected to T2S? Learn more and ask your questions.

Speaker: George Kalogeropoulos, ECB

Theme three: Collateral management

Optimising the use of collateral continues to be an important topic for market stakeholders; the Eurosystem is committed to supporting this process.

Managing Eurosystem projects

The Eurosystem is exploring the development of a centralised collateral management system. Such a system will be developed by the 4CB in addition to the development of TIPS and consolidation of TARGET2 and T2S. What are the synergies between the projects and how does the 4CB coordinate the workflows?

Speaker: Philippe Leblanc, Banque de France

Panel discussion: Optimising collateral management

Efficient collateral management is essential for market participants. But where is further harmonisation needed and what are the views of market participants concerning a Eurosystem collateral management system?

Speakers:

• Gesa Benda, Chair of the Task Force on collateral harmonisation management
• Brigitte Daurelle, Euroclear
• Joel Merere, Chair of the Harmonisation Steering Group
• Dominique Le Masson, BNP Paribas
• Jean-Robert Wilkin, Clearstream

Moderator: Imène Rahmouni-Rousseau, Banque de France

Closing remarks

Mehdi Manaa, ECB