2  See also the recently published paper by the ECB in October 2010 called “T2S: Half-way to delivery” which explains in great detail the purpose, scope and benefits of T2S and answers relevant questions that are currently asked.
BIS Review 151/2010  3  For the CSD customers, of course, it depends on the fees that CSDs will add on top for their services but I am convinced that the final settlement price in a T2S world will be lower than the current domestic prices in any European country. Prices for cross-border transactions should even decrease by around 90%.