Produced jointly by Deutsche Bank's Domestic Custody Services unit and Oliver Wyman, this report is intended to provide a starting point for businesses preparing their own impact assessment following the introduction of regulatory initiative TARGET2-Securities (T2S) project. It describes the planned T2S system and its history, explores the likely implications for various kinds of post-trade market participants, including CSDs, custodians, broker-dealers, asset managers, banks and exchanges, and gives an update on expected changes in the market size of custody services in Europe.
