However, going live requires more than just the Eurosystem being ready; we also need the migrating communities to be ready. The first T2S migration wave was to include five securities depositories and their communities: Bank of Greece Securities Settlement System (BOGS), Depozitarul Central (Romania), Malta Stock Exchange, Monte Titoli (Italy) and SIX SIS (Switzerland).
Four out of those five markets, namely Greece, Malta, Romania and Switzerland, have confirmed their readiness to migrate as scheduled on 22 June 2015. As far as the Italian market is concerned, a solution has been put forward which has eased the strong discomfort that has recently been signalled by the Italian banks regarding migration on 22 June 2015.