ECMS gets the green light for go-live
19 May 2025 Europe
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The new Eurosystem Collateral Management System (ECMS) will go live on 16 June 2025, as confirmed by the Governing Council of the European Central Bank (ECB).
Following a number of postponements for the new system go-live, a positive assessment has been conducted by the Market Infrastructure Board of the ECB.
The ECMS is a unified system that aims to harmonise collateral management for Eurosystem credit operations, replacing the systems currently used by the 20 euro area national central banks.
According to the ECB, these national central banks and their counterparties “stand ready” for the launch of the ECMS following extensive testing of the system in a stable environment.
After migration is completed over the weekend, ECMS operations are expected to start on 16 June at 07:00 CET.
The ECMS will facilitate the smooth flow of cash, securities, and collateral across Europe, enhancing the liquidity management features of TARGET services, the ECB says.
Following a number of postponements for the new system go-live, a positive assessment has been conducted by the Market Infrastructure Board of the ECB.
The ECMS is a unified system that aims to harmonise collateral management for Eurosystem credit operations, replacing the systems currently used by the 20 euro area national central banks.
According to the ECB, these national central banks and their counterparties “stand ready” for the launch of the ECMS following extensive testing of the system in a stable environment.
After migration is completed over the weekend, ECMS operations are expected to start on 16 June at 07:00 CET.
The ECMS will facilitate the smooth flow of cash, securities, and collateral across Europe, enhancing the liquidity management features of TARGET services, the ECB says.
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