T2S DCA cash reporting service

For TARGET2-Securities (T2S), our goal is to allow customers to leverage the opportunities offered by a single European liquidity pool, and to provide top-range, harmonised value-added services accessible to all customers.

To help our customers leverage these benefits, we have launched a new T2S Dedicated Cash Account (DCA) reporting service together with the Deutsche Bundesbank and with the Banque centrale de Luxembourg.

This cash reporting solution allows eligible customers to receive a T2S DCA statement in SWIFT ISO 15022 format (MT940) via their Clearstream account. This statement will also be accessible via the Xact Web Portal.

Key benefits

  • Cash reconciliation optimisation;
  • Reduction of operational risk by minimising manual handling; and
  • No requirement for system enhancements to process direct T2S ISO 20022 message feeds.

The service is available to both cash Indirectly Connected Participants (cash ICPs) as well as cash Directly Connected Participants (cash DCPs) holding their DCA(s) at the Deutsche Bundesbank or the Banque centrale de Luxembourg. It is likely that this service will eventually be extended to DCA holders of other National Central Banks.

This cash reporting service complements our overall T2S offering for cash participants and cash management services.