Unsurprisingly, the Governing Council of the European Central Bank has finally approved the development of TIPS – Target 2 Instant Payments Settlement.
The official project milestones have been defined as follows:
Start of the implementation phase:
Start of the internal System Test by the Eurosystem:
Start of the external Test with Pilot users:
August – September 2018
The Eurosystem confirms for TIPS the already adopted agnostic approach for T2S regarding NSPs (Network Service Providers) allowed.
TIPS will be the first system to use the new unified ESMIG access infrastructure (Eurosystem Single Market Infrastructure Gateway), which interconnects to all central infrastructures managed by the ECB. TIPS will be the first branch of the consolidated platform, in which the new ECMS system (Eurosystem Collateral Magement System), Target2 and T2S will be integrated later.
Since the beginning, TAS Group has been at the heart of the pan-European central infrastructures thanks to business domain expertise and innovative technological platforms. Now entering this very busy and exciting period, we continue our dedication to servicing the Eurosystem, major European Central Banks and commercial banks.
Discover more about the Council decision at https://www.ecb.europa.eu/press/pr/date/2017/html/ecb.pr170622.en.html