Same as TARGET2 it is overseen by the Eurosystem itself and aims at providing an accessible system of Clearing without intention to gain monetary profit. Hence, T2S is safer than other systems of such type. It is based on the TARGET2 platform and hence provides the same level of availability, resilience, recovery time and security as TARGET2. This system allows to the participants connecting to it, to be directly added to the TARGET2 system. The primary goal of TS2 is to provide an efficient system for Settlement in euro. However, it is also technically possible to execute Orders in other currencies.
It works in the same manner as all other Clearing Systems.