National Stakeholder Groups

National Stakeholder Groups (NSGs) are the fora for involving national stakeholders in the work of  the respective Advisory Groups on Market Infrastructures (AMI-Pay, AMI-SeCo).

Advisory Group on Market Infrastructures for Payments

  • To support financial market integration in the field of payments and to provide advice on financial market infrastructures managed by the Eurosystem including related projects.

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Advisory Group on Market Infrastructures for Securities & Collateral

  • To support financial market integration in the field of securities clearing and settlement and collateral management and to provide advice on financial market infrastructures managed by the Eurosystem including related projects. 

  • Act as an advisory body for all issues related to the development, implementation and operation of T2S.      

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Market Infrastructure Developments

The NSGs are responsible for keeping up to date with and implementing the latest Eurosystem market infrastructure developments. A key responsibility of the NSGs in the coming years is implementing the Eurosystem’s Vision 2020 projects in the Irish market.

The objectives of Vision 2020 are to facilitate further market integration, to reduce operational costs, to identify modernisation opportunities for Eurosystem market infrastructure services and to improve the services that the Eurosystem currently offers to the financial market for payments, collateral and securities.   

T2/T2S Consolidation

  • A technical and functional consolidation of the TARGET2 and T2S platforms, the implementation of a market infrastructure single gateway for Eurosystem market infrastructures, a review of the business services provided to TARGET2 participants and enhancement of information security and cyber resilience. 

Eurosystem Collateral Management System (ECMS)

  • The development of a common Eurosystem Collateral Management System for managing eligible assets as collateral in Eurosystem credit/liquidity absorbing operations.

Target Instant Payment Settlement (TIPS)

  •  The development of a platform for the pan-European settlement of instant payments.