Euroclear, the largest settlement house in Europe, has offered to help with the development of the European Central Bank’s delayed pan-European settlement system by proposing the ECB adopt Euroclear’s own platform.

The ECB's project to develop a single settlement system across Europe, called Target2-Securities or T2S, aims to bring post-trade costs in line with the US. T2S was conceived in 2006, but has been plagued by delays and is understood to be at least a year behind its target launch date.