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The ECB has instigated the Target 2 Securities (T2S) platform, which will offer one-stop shop settlement in securities like shares in a multi-currency service and should reduce the fees for cross-border transactions. "The Governing Council decided that T2S would go live nine months later than planned i.e. in June 2015, rather than September 2014," the ECB said on its Internet site, and added that it would provide more information about the delay in due course. It gave no reason for the delay.