The Malta Stock Exchange central securities depositories will be migrating to Target 2 Securities, with the first of the four planned waves, scheduled for June 22, 2015.

The T2-S project was initiated in 2006 by the European Central Bank as a pan-European securities settlement system, designed to create seamless, harmonised, more efficient, less costly, and above all, more secure, clearing and settlement processes.

The Exchange, as operator of the local central securities depository, has been involved in the project since its inception and as a signatory of the Framework Agreement governing T2-S, confirmed its commitment to participate in this pan-European initiative. T2-S will be implemented in four waves involving more that 30 European central securities depositories, between June 2015 and November of 2017.

The Exchange recently hosted the T2-S advisory group meeting which was attended by over 70 participants.

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