Documentation & FAQs

FAQs arising from the German market
The launch of the new T2 service and the use of common components across all TARGET services will involve major changes to the current TARGET2 system – from the network-agnostic connection and the introduction of ISO 20022 messages to separate settlement for monetary policy operations and high-value payments, as well as the completely new account structure this will entail.
Of course, major changes such as these raise a number of issues. The Bundesbank has created an FAQ document containing the German user community’s most frequently asked questions. The document will be updated regularly and new questions will be added.

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T2/T2S Consolidation Frequently asked questions

02.12.2020 | 1 MB, PDF

ESMIG U2A Qualified Configurations
The ESMIG Qualified Configurations describe the technical requirements on the user side to access the T2S, TIPS, ECMS, RTGS, CLM and CRDM GUI via the ESMIG web portal. A special section is dedicated to the description of the technical framework needed to fully implement the Non-Repudiation of Origin (NRO) functionality.

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ESMIG U2A Qualified Configurations Version 1.3.4

07.10.2022 | 1 MB, PDF

Information on Ascertia GoSignDesktop Version 6.9.0.9

12.10.2022 | 246 KB, PDF
TARGET Services Connectivity Guide
The TARGET Services Connectivity Guide describes in general terms the connectivity to the Eurosystem Single Market Infrastructure Gateway (ESMIG). The ESMIG provides a single access point for directly connected actors to access TARGET Services. Access to the ESMIG is provided by the two Network Service Providers (NSP) selected by the Eurosystem, which are SIA-COLT and SWIFT.
The connectivity guide is applicable for T2S, T2 and TIPS and is valid for both production and test environments.
Please keep in mind that this connectivity guide only is not sufficient to achieve the connectivity to ESMIG. All NSPs specific steps and technical details to achieve the connectivity to TARGET Services are described in the relevant NSP related documentation.

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TARGET Services Connectivity Guide

30.06.2022 | 601 KB, PDF
ESMIG Terms of Reference
The common ESMIG (Eurosystem Single Market Infrastructure Gateway) interface is the single access point to the Eurosystem’s market infrastructures. It is one of the core elements of the common components of TARGET Services. Each participant - i.e. all banks, investment firms and ancillary systems as well – must establish a connection via ESMIG if they wish to communicate directly with the TARGET Services. The two network service providers SIA-Colt and SWIFT, licensed by the Eurosystem, are available for this purpose and have been awarded the ESMIG concession as part of a Europe-wide tender procedure.
The document "ESMIG Terms of References" summarises essential elements concerning the connection to ESMIG.

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ESMIG Terms of Reference

29.03.2021 | 183 KB, PDF
Contracts with network service providers
The Eurosystem is applying a network-agnostic approach for communication with TARGET Services. The two network service providers SIA-Colt and SWIFT were chosen to offer connectivity to the TARGET Services as the result of an official tender procedure. The concession contracts concluded between the network service providers and the Eurosystem form the basis for the contracts between the participants and the network service provider(s). All participants with a direct connection to T2 are required to conclude a contract of this kind with at least one of the two network service providers licensed by the Eurosystem.
The concession contracts concluded between the network service providers and the Eurosystem can be viewed here. They also include the maximum prices that network service providers may charge their customers for connecting to the TARGET Services – T2, T2S, TIPS and ECMS.

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Confirmation of the validation process of NSP Users Contractual Documentation

20.05.2020 | 104 KB, PDF

Concession contract - SIA-Colt Signed by SIA

11.07.2019 | 2 MB, PDF

Concession contract - SIA-Colt Signed by the Eurosystem

11.07.2019 | 2 MB, PDF

Concession contract - SWIFT Signed by SWIFT

11.07.2019 | 2 MB, PDF

Concession contract - SWIFT Signed by the Eurosystem

11.07.2019 | 2 MB, PDF
FAQs on the ESMIG Connectivity Services Agreements
The Eurosystem Single Market Infrastructure Gateway, or ESMIG for short, is the central access point for the TARGET Services T2 (i.e. CLM and RTGS), T2S, TIPS and ECMS. Connectivity to TARGET Services through ESMIG is provided by a network service provider. The two network service providers SIA-Colt and SWIFT were chosen to offer connectivity to the TARGET Services as the result of an official tender procedure. The concession contracts concluded between the network service providers and the Eurosystem form the basis for the contracts between the participants and the network service provider(s). All participants with a direct connection to T2 are required to conclude a contract of this kind with at least one of the two network service providers licensed by the Eurosystem.
The Eurosystem has compiled a list of market participants’ most frequently asked questions regarding the rights and obligations of the network service providers under the concession contracts and continually updates it.

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ESMIG Connectivity Services Agreements - Q&A

23.06.2021 | 234 KB, PDF

Introduction for accessing SWIFT “MyStandards“ and the “MyStandards Readiness Portal”
Communication with TARGET Services in application-to-application mode is carried out via ISO 20022-compliant messages. While the basic features of the messages are described in the respective User Detailed Functional Specifications (UDFS), the specific usage guidelines can be found in the online portal “MyStandards”, which is supported by SWIFT. To access the messages provided there, users have to complete a one-off registration process.
Additionally, the SWIFT MyStandards Readiness Portal allows institutions to test the messages they have developed for the TARGET2/T2S consolidation project, thereby checking the compatibility of their messages with the message formats described in the UDFS and provided in MyStandards. The SWIFT MyStandards Readiness Portal is available to all participants – regardless of the network service provider through which they will connect to the future platform.
The document "MyStandards + Readiness Portal User Manual" describes the registration process for MyStandards, the functionality of MyStandards Readiness Portal, and certain rules to follow when testing sample messages.

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MyStandards + Readiness Portal User Manual

31.03.2023 | 4 MB, PDF

Sample scheme of a Data Warehouse report
Chapter 3.1 of the UDFS V2.2 for the Data Warehouse contains an example of a report scheme (only envelope, without further data) that can be received via A2A mode in the future. The example has been further developed in the meantime. Therefore, the Eurosystem has provided an updated example file prior to the publication of the next UDFS version (3.0).

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Sample scheme of a Data Warehouse report

20.08.2021 | 1 KB, ZIP
Samples for the integration of header messages and payload
The Eurosystem has provided eight sample files for the integration of header messages and payload to help with the implementation of end-to-end scenarios.
They provide information on the integration of the business application header (head.001) and payload (e.g. pacs.008) and of the business file header (head.002), the corresponding technical wrapper (head.003), the business application header (head.001) and the payload (here: pacs.009). In a second step, these examples will be integrated into the corresponding usage guidelines in MyStandards and included in the UDFS V3.0 for CLM and RTGS, which will be published shortly before the go-live of the consolidation project.

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Samples for the integration of header messages and payload

20.08.2021 | 22 KB, ZIP
Examples for the use of "multi-addressee BICs"
In the RTGS component of T2, communication with one RTGS DCA can be carried out via several BICs. This communication via so-called "multi-addressee BICs" is also possible today in the current TARGET2 system; the BICs are applied in the header of the FIN message (MT). In T2, you will find them in the Business Application Header (BAH). In addition, the relevant messages of the ISO 20022 standard require the specification of the "instructing agent" or the "instructed agent" at transaction level. According to the UDFS for RTGS, "Instructing Agent" and "Instructed Agent" must be filled with the BIC of the RTGS DCA on which the transaction should be carried out. Therefore, for messages from or to multi-addressee BICs, a BIC different from the business application header must be set in the "Instructing Agent" or "Instructed Agent".
Especially for one-leg-out payments, i.e. for payments originating from the correspondent banking area (based on the Usage Guidelines of CBPR+) to T2-RTGS or for payments originating from T2-RTGS to the correspondent banking area, market participants requested that the payments and the BICs that are to be used should be clarified by means of concrete example scenarios. These example scenarios, that show with which BICs the corresponding elements of a pacs.009 message (FinancialInstitutionCreditTransfer) should be filled, can be found in the following file.

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Examples Multi Addressee Version 3.0

21.01.2022 | 45 KB, XLSX
TARGET Services pricing guide
The TARGET Services pricing guide provides a comprehensive overview of the pricing schemes for Central Liquidity Management (CLM), the RTGS service component, T2S and TIPS. Furthermore, it gives a detailed explanation of the billing principles for the functionalities of RTGS (including ancillary systems), the cash-related part of T2S and TIPS after the T2/T2S consolidation project go live in November 2022.

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TARGET Services pricing guide Version 1.0

01.04.2021 | 408 KB, PDF
T2 Ancillary Systems Settlement Procedures
Other settlement systems, such as those for retail payments and high-value payments as well as securities and foreign exchange settlement, are currently also connected to TARGET2 via the ancillary system interface. Six standardised settlement procedures, known as ancillary system interface (ASI) procedures, are used to settle the transactions from these ancillary systems via the accounts of the participants in TARGET2, and thus in central bank money. The concept of settlement on T2 accounts will also be maintained in the wake of the TARGET2/T2S consolidation. In total, the RTGS settlement service offers five dedicated settlement procedures – A to E – which are tailored to the specific needs of the individual ancillary systems. Unlike the current situation for TARGET2, looking ahead, all five settlement procedures will be available for the settlement of ancillary system transactions from 19:30 onwards. The following document provides an overview of the planned use of the settlement procedures and the envisaged settlement times of the individual ancillary systems.

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Ancillary systems procedures for T2

17.10.2022 | 56 KB, XLSX
FAQ on Co-Management
With the co-management functionality, the administration of MCAs of other participants will be possible. Participants who are connected via a co-manager do not need an own ESMIG access, they will use the technical connection of the co-manager. In this context, the following document provides answers to frequently asked questions about co-management.

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Frequently Asked Questions on co-management

08.02.2023 | 368 KB, PDF
Glossary
The T2 Glossary explains the main abbreviations and terms used in the T2 context. It serves as a useful tool to help you study the functional project documentation and quickly look up the terms used in the TARGET2/T2S consolidation project.

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T2 Glossary Version 3.0

01.12.2022 | 461 KB, PDF

Documentation & FAQs

Functional project documentation

FAQs

Documents on ESMIG connection

Documents on SWIFT MyStandards

Further documents