And we are now working on the other technical documentation, in particular the User Detailed Functional Specification. Another important workstream is the preparation work for the formal contractual relations between the Eurosystem and the CSDs, which will continue with all those CSDs that signed today’s Memorandum of Understanding.
One of the key aspects that will need to be included in the contract with the CSDs is the costs associated with using T2S when it is operational.