Latest news with #T2S
Cision Canada
15-07-2025
- Business
- Cision Canada
Euroclear to deliver post-trade infrastructure connecting all 27 EU markets in all financial asset classes
BRUSSELS, July 15, 2025 /CNW/ -- Euroclear today unveils a comprehensive plan to establish a true single market for post-trade services across asset classes. This initiative, aimed at enhancing the efficiency and effectiveness of European market infrastructure, will support the Savings and Investments Union's (SIU) ambitions and ensure Europe remains the 'go-to place' for investors and issuers globally. Euroclear's ambitious project will bring a number of significant benefits, including providing seamless connectivity across the single market, encouraging healthy market competition, promoting financial stability, and fostering innovation and accelerated technology adoption. To do so, Euroclear builds on the know-how, scale and global connectivity of its unique model: combining the leading international Central Securities Depository (Euroclear Bank) with its six local CSDs in Europe. This open-model positions Euroclear as Europe's gateway to the world - enabling it to connect global markets, drive innovation and unlock further efficiency. Euroclear commits to provide a single point of access to all 27 Member States across all financial asset classes – equities, fixed income and all types of funds, by: Offering both central bank money and commercial bank money access to all EU CSDs by accelerating the full connection of Euroclear Bank to the European Central Bank's Target2-Securities (T2S) platform. Delivering more efficient and integrated services through enhanced synergies between Euroclear's local CSDs as well as with Euroclear Bank. This action plan will see Euroclear continue to invest in infrastructure and services that contribute to a more efficient single market: Providing a pan-European infrastructure for issuers seeking access to a broad investor ecosystem, deep liquidity and cost-effective issuer services. Enhancing post-trade infrastructure to channel retail and institutional investment towards equities, mutual and alternative fund products. Building on our leading collateral management solutions to enhance liquidity and stability in global financial markets. Working with central banks and market participants on the development of next-generation digital infrastructure. To implement this action plan, Euroclear's focus will be to complete Euroclear Bank's commercial bank money access to all 27 EU Member States by 2026. In parallel, we will accelerate Euroclear Bank's connection to T2S to offer Central Bank Money access thereafter. Valérie Urbain, Euroclear's CEO, commented: " The key to more liquid and effective capital markets in Europe is through driving market openness, interconnectivity and maximising choice for users. Only under these conditions can European markets truly thrive and remain competitive at a global level. Today, we are committed to making Euroclear the single-entry point for all asset classes including funds, fixed income and equities across the 27 Member States." Euroclear has been actively contributing to the financing of the European economy and integration of European markets over decades. Today, as the largest CSD group in Europe, Euroclear holds over 50% of all securities issued in the EU and represents over 60% of EU settlement turnover. To support these efforts, Euroclear has outlined several policy priorities and recommendations [] for European policymakers and market participants. These include enabling FMI group integration and regulatory simplification, strengthening open access and competition, fostering legal and regulatory convergence, optimizing settlement and asset servicing, scaling digital assets and DLT infrastructures, and enhancing supervisory consistency.
Arabian Post
02-07-2025
- Business
- Arabian Post
ECB Embarks on Dual‑Track DLT Settlement Strategy
The European Central Bank has green‑lit a pioneering dual‑track framework to enable settlement of transactions on distributed ledger technology platforms using central bank money. The Governing Council's initiative combines a short‑term pilot, dubbed Pontes, scheduled to interface DLT platforms with TARGET Services by the end of the third quarter of 2026, and a longer‑term initiative, Appia, which seeks to establish a future‑proof global DLT infrastructure. Pontes represents the near‑term goal: creating a secure link between existing DLT platforms and the Eurosystem's TARGET services—namely TARGET2, T2S and TIPS—through a unified Eurosystem solution. It builds directly on exploratory work carried out between May and November 2024, where 64 participants explored over 50 experimental setups that used intraday escrow and liquidity tokens. The ECB has indicated its intention to invite expressions of interest from the market to join Pontes' pilot phase, expected to commence by Q3 2026. The longer‑term Appia track explores integration of DLT in a broader ecosystem, extending into global payment and securities infrastructures. This initiative aims to support international use cases such as cross‑border foreign exchange settlements and compliance with global standards, collaborating with public and private sector stakeholders to assess interoperability, scalability and legal frameworks. ADVERTISEMENT During the 2024 discovery phase, experiments featured diverse approaches, including trials led by the Banque de France and Banca d'Italia. These trials used escrow-based intraday liquidity provision mechanisms that participants later advocated to evolve into overnight capabilities, shedding light on liquidity management inefficiencies. Officials noted the potential for simultaneous settlement and collateral automation to cut credit and liquidity risks, while potentially reducing operational costs. Piero Cipollone, a member of the ECB's Executive Board, remarked that although DLT and tokenisation remain nascent, they 'are likely to offer new ways of improving the settlement of financial transactions.' He emphasised that the dual‑track approach serves innovation while maintaining security and efficiency in financial market infrastructure. Pontes and Appia will operate under dedicated market contact groups. The ECB intends to outfit each with analysts and market participants to ensure operational robustness and collect stakeholder feedback as integration proceeds. With Pontes launching a Q3 2026 pilot, the ECB is concurrently reviewing additional trial proposals for integration within existing TARGET services frameworks. The initiatives support the Eurosystem's wider ambition to modernise wholesale settlement systems. Appia is envisioned as an evolution towards integrated ecosystems that support global operations and stimulate interoperability with other jurisdictions, thereby elevating Europe's position in the digital infrastructure space. European authorities have signalled enduring commitment to innovation since experimental work in 2024. The report released today, aligned with Pontes and Appia's dual‑track launch, highlights how central banks across the continent are balancing emerging technologies with systemic resilience goals—managing legal, technical and liquidity implications harmoniously. Market analysts believe the Pontes initiative addresses immediate demand from DLT innovators for central bank money settlement in familiar frameworks, while Appia opens the door to more ambitious, globally interoperable DLT ecosystems. Senior banking figures in Frankfurt have described the move as a 'critical turning point' in central banks embracing digital transformation to reduce transaction costs and boost cross-border efficiency across Europe. The ECB's decision signals readiness to bridge traditional financial infrastructure with blockchain-based innovations without compromising safety or oversight. Through Pontes, the Eurosystem seeks to preserve market standards for liquidity and settlement, building confidence among banks and fintechs in central bank money λ integration. Appia, in turn, presents a vision of digital finance aligned with evolving global regulation and technological standards. This marks the first time the ECB has approved a formal pilot to connect central bank money with DLT platforms. The outcomes of Pontes will help shape future integrations—potentially serving as a template for central bank digital currencies and wholesale tokenised ecosystems. The experiments under Appia could establish key precedents for global interoperability standards and regulatory coordination, reinforcing the Eurosystem's role as a leader in secure, innovative payment infrastructures.
Yahoo
19-05-2025
- Business
- Yahoo
PermRock Royalty Trust Declares Monthly Cash Distribution
DALLAS, May 19, 2025 /PRNewswire/ -- PermRock Royalty Trust (NYSE:PRT) (the "Trust") today declared a monthly cash distribution to record holders of its trust units representing beneficial interests in the Trust ("Trust Units") as of May 30, 2025, and payable on June 13, 2025, in the amount of $371,192.79 ($0.030511 per Trust Unit), based principally upon production during the month of March 2025. The following table displays underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month net profits interest calculations:Underlying Sales Volumes Average PriceOil Natural Gas Oil Natural GasBbls Bbls/D Mcf Mcf/D (per Bbl) (per Mcf) Current Month 22,232 717 24,848 802 $66.92 $3.19 Prior Month 21,413 765 25,759 920 $70.27 $4.15 Oil cash receipts for the properties underlying the Trust totaled $1.49 million for the current month, a decrease of $0.01 million from the prior month's distribution period. This decrease was primarily due to a decrease in oil sales prices. Natural gas cash receipts for the properties underlying the Trust totaled $0.08 million for the current month, a decrease of $0.03 million from the prior month's distribution period. This decrease was primarily due to a decrease in natural gas sales volumes and prices. Total direct operating expenses, including marketing, lease operating expenses, and workover expenses, were $0.60 million, a decrease of $0.06 million from the prior month's distribution period. Severance and ad valorem taxes included in this month's net profits calculation were $0.14 million. Capital expenses were $0.01 million, a decrease of $0.04 million from the prior month's distribution period. About PermRock Royalty Trust PermRock Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain properties owned and operated by T2S Permian Acquisition II LLC ("T2S") in the Permian Basin of West Texas. For more information on PermRock Royalty Trust, please visit our website at Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release constitute "forward-looking statements." These forward-looking statements represent the Trust's and T2S's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, future cash retentions, advancements or recoupments from distributions, and statements regarding T2S's operations and the resulting impact on the computation of the Trust's net profits. The amount of cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by volatility in commodity prices and oversupply. Other important factors that could cause actual results to differ materially from those projected in the forward-looking statements include expenses of the Trust and reserves for anticipated future expenses, uncertainties in estimating the cost of drilling activities and risks associated with drilling and operating oil and natural gas wells. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Trust does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Trust to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Trust's Annual Report on Form 10-K filed with the SEC on March 31, 2025, and other public filings filed with the SEC. The risk factors and other factors noted in the Trust's public filings with the SEC could cause its actual results to differ materially from those contained in any forward-looking statement. The Trust's filed reports are or will be available over the Internet at the SEC's website at Contact: PermRock Royalty TrustArgent Trust Company, TrusteeJana Egeler, Vice President, Trust AdministratorToll-free: (855) 588-7839Fax: (214) 559-7010Website: e-mail: trustee@ View original content: SOURCE PermRock Royalty Trust Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-02-2025
- Business
- Yahoo
ECB fixes outage in multi-trillion-euro payment system
By Sinead Cruise, Amanda Cooper and Francesco Canepa LONDON/FRANKFURT (Reuters) - The European Central Bank said late on Thursday it had fixed an unprecedented outage in its payment system which had left transactions likely worth trillions of euros from companies, consumers and investors up in the air for most of the day. The malfunction of the Target 2 system, used to settle more than 3 trillion euros ($3.12 trillion) of daily payments and financial trades, meant transactions between banks could not go through. While the interruption had not been felt by regular bank customers, it had put a question mark on the transactions between lenders that are completed at the end of the day and underpin the very functioning of the euro zone's economy. The event caused disruptions during U.S. trading hours, according to a source at one U.S. lender. There are still expectations that the backlog could be cleared during the extended settlement hours which could make the overall impact muted, the source added. Another U.S. bank said it was processing backlogs without issue after the ECB restarted the system. After a hiatus that lasted roughly seven hours, the ECB said around 1800 GMT that Target 2 (T2) was functioning normally although all the deadlines to settle the day's payment flows had been postponed by several hours. "The previous incident has been resolved and T2 has resumed normal operations," the ECB said in a status update on its website. In a statement to Reuters earlier, the ECB said the unprecedented issue had been caused by a "hardware defect" and there was no "malicious (or) foul play". Banks, which depend on the system to settle their accounts with one another, had been instructed to keep placing their payments in the queue throughout the day as they waited for the outage to be fixed. An emergency channel had remained open for "very critical payments", the ECB said. The pan-European TARGET 2 Securities (T2S) platform, which is used to complete trades in cash and securities across 24 depositories such as Euroclear, was also back online after being affected by a glitch in its communication channels. "T2S is operating normally and the previous incident... was resolved," the ECB said. The cut-off time for Thursday's trade had been pushed back by six hours to 2100 GMT. Trading sources said communications had been disrupted and the status of trades since the outage was reported remained unclear. The problem affected critical communications between central securities depositories (CSDs), the basic plumbing of financial markets. Market participants usually communicate with T2S via their CSD or central bank. Michael Thomas, a partner at Hogan Lovells' financial services team and market structure expert, said the episode could have a wide variety of consequences. "Where there are chains of transactions, where each leg is dependent on settlement of each other leg, a break in the chain can affect the whole series of transactions," he said. "The longer the delay, the greater the impact on liquidity in the financial system, where cash cannot be realised because securities transactions are not able to settle, meaning that cash is not available for other purposes," he said. According to the ECB's website, any issues with the T2S system in the past couple of years have typically been resolved quickly. Thursday's outage was reported at 0730 GMT and was only resolved at around 1700 GMT. European stock, currency and bond markets appeared to have traded normally, according to LSEG data. Settlement on trades takes two working days, which might mean disruption may not show up until early next week. Central counterparties, or clearing houses, ensure that a stock, bond or derivatives transaction is completed. The final leg of a trade, known as settlement, is conducted by the CSDs. One CSD, Clearstream, said on its website that settlement of euro securities would be delayed. Others including Euroclear did not immediately respond to a request for comment from Reuters. A person familiar with the matter said some Euroclear clients might see delays in the processing of their transactions. ($1 = 0.9607 euros) (Additional reporting by Lucy Raitano and Samuel Indyk in London and Lefteris Papadimas in Athens and Nupur Anand in New York; Writing by John O'Donnell; Editing by Harry Robertson, Philippa Fletcher, Nia Williams and Daniel Wallis) Sign in to access your portfolio
Bloomberg
27-02-2025
- Business
- Bloomberg
ECB's €790 Billion Trade Settlement System Operational Again
The European Central Bank's securities settlement system is working again after a communications shutdown earlier on Thursday due to a hardware failure. The TARGET2-Securities, or T2S, platform is 'operating normally and the previous incident impacting Application-to-Application outbound and inbound communication due to a hardware component was resolved,' the ECB said in a statement.
