The Eurosystem successfully launches its new Collateral Management System (Ecms)

17 June 2025

The Eurosystem successfully launched its new, unified Eurosystem Collateral Management System (ECMS) on 16 June 2025 after the migration to the new set-up was completed over the weekend of 13-15 June. The ECMS thus becomes the fourth TARGET Service in operation, advancing the Eurosystem's vision for a unified, efficient and innovative European financial framework.