TARGET2-Securities

Updated: 23.09.2020

Eurosystem’s infrastructure enabling the execution of securities settlements and the related cash settlements.

TARGET2-Securities offers European central securities depositaries (CSD) and CSDs’ participants centralized settlement of securities transactions on a delivery-versus-payment (DvP) basis in central bank money.

In 2019, the average daily volume settled in TARGET2-Securities amounted to 607 thousand transactions with the average daily value of 1.1 trillion euro.

Latvijas Banka ensures settlement of the cash leg of TARGET2-Latvia participants’ securities transactions settling in TARGET2-Securities in euro.

Information for participants of TARGET2-Securities

TARGET2-Securities platform is based on a single technical solution which is integrated into TARGET2 component systems. It enables TARGET2 participants to use one TARGET2-Securities dedicated cash account to settle for securities held on participant’s securities accounts with any CSD connected to TARGET2-Securities platform.

Latvijas Banka opens and maintains TARGET2-Securities dedicated cash accounts for the participants of TARGET2-Latvija pursuant to the "System Rules for Participation in TARGET2-Latvija" (available only in Latvian).

Static data forms

Reference and Static Data Registration User Guide