If you would like to join RT1, please contact us via our contact form with your preference for one of the proposed joining windows. We will guide you through the whole joining process.
Three planned joining windows for 2020
|Event||Window 1||Window 2||Window 3|
|Deadline for participation||13 December 2019||10 April 2020||04 September 2020|
|Start of connectivity testing||20 January 2020||20 April 2020||14 September 2020|
|Start of scripted testing||03 February 2020||04 May 2020||28 September 2020|
|Controlled go live date||23 April 2020||09 July 2020||26 November 2020|
Change dates for the RT1 Service are set by the below conditions:
- There is a maximum of one change date per week.
- It must be every Tuesday.
- The administrative deadline for legal and administrative documents to meet a change date is that of two weeks prior to the given date.
- It shall not fall during the frozen period between the second week of December and the second week of January.
In order to fulfil the admission criteria for the RT1 System, a participant must:
- be authorised to act as a credit institution
- have TARGET2 account access
i.e. (a) have a direct participant status in TARGET2 and hold and have access to an account in TARGET2, or (b) have a liquidity provider that has the status of a direct participant in TARGET2
- be able to comply with the technical and operational requirements of the RT1 System, including requirements aiming at ensuring availability of the RT1 Participant during the operational times of the system
- have its registered office in a Member State of the EU, the EEA or the OECD, or a country or territory which is part of SEPA
- participate in the system via its registered office or a branch located in the geographical area of SEPA
- provide a capacity opinion with respect to its participation in the RT1 System
- have adhered to the SCT Inst Scheme Rulebook of the European Payments Council
Exclusion, Suspension and Withdrawal from the RT1 System
The occurrence of a suspension or exclusion event and the consequences thereof for the suspended / excluded participant and for the other participants are determined solely in accordance with the RT1 Rules. The systems’ rules are proprietary and confidential, and are available to all participants, to prospective participants that have applied for becoming a participant, and to relevant authorities including in particular the European Central Bank / Eurosystem as overseer of RT1.
Operational defaults will be addressed in first instance through the activation of incident handling and, as applicable, crisis management arrangements.
A participant can be prevented by the System Operator from continuing to participate in the system if certain events occur.
Events that may give rise to exclusion comprise in particular:
- termination of access to TARGET2 account
- loss of license to act as a credit institution
- insolvency or comparable situations (unless an exclusion or suspension would contravene legislation implementing the Bank Recovery and Resolution Directive (BRRD) or equivalent third country legislation)
- a suspension event has not been remedied within 30 calendar days
The criteria for participation in the RT1 System consist of necessary legal, technical and operational requirements to enable the processing of SCT Inst transactions, as well as funding and de-funding operations in TARGET2.
A participant may be suspended if non-compliance with the ongoing criteria for participation cannot be otherwise mitigated, e.g. in the case of relocation outside SEPA.
A participant can withdraw from the RT1 System by giving notice of termination at least five TARGET2 business days prior to the withdrawal.