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Possible Answers:
TARGET.
Last seen on: L.A. Times Daily Crossword – May 14 2022
Random information on the term “TARGET”:
T2S (TARGET2-Securities) is a European securities settlement engine which aims to offer centralised delivery-versus-payment (DvP) settlement in central bank funds across all European securities markets. It is important to take note of the fact that T2S is not a central securities depository (CSD), but a platform intended to enable CSDs to increase their competitiveness.
After market consultations and a decision by the Governing Council of the European Central Bank (ECB), the project was launched in 2008 and the platform started operations in 2015. The T2S Framework Agreement, negotiated between CSDs and the Eurosystem, has been signed by 24 CSDs, which migrated to the T2S platform in four waves between June 2015 and February 2017.
The fundamental objective of the T2S project is to integrate and harmonise the highly fragmented securities settlement infrastructure in Europe. It aims to reduce the costs of cross-border securities settlement and to increase competition and choice amongst providers of post-trading services in Europe. Therefore it is a critical step forward in the creation of the single market for financial services in the European Union.