The Governing Council of the European Central Bank (ECB) has decided to reschedule the launch of the new Target 2 real-time gross settlement (RTGS) system and its central liquidity management model from 21 November 2022 to 20 March 2023.
 
In view of the current geopolitical conditions and volatile financial markets, the additional four-month period allows users more time to complete their testing in a stable environment, ensures user readiness, as well a smooth transition to the new platform; taking into consideration that the Eurosystem will provide all the necessary support to market participants during their final preparations. This will have a large impact on the MX Migration roadmap of the global financial industry, as there are a number of other migrations planned in 2023 that potentially need to move.
 
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