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ECB's Mersch says Target 2 securities plan on track

DUBAI (Reuters) - The European Central Bank's Target 2 securities plan is fully on track and there is no delay at all, ECB Executive Board member Yves Mersch said on Monday.

Speaking at a banking conference in the United Arab Emirates, Mersch said the project would be delivered in two years' time as promised.

Target 2 aims to centralise settlement of most securities on a single pan-European platform, sharply reducing costs.

(Reporting by Martin Dokoupil; Writing by Andrew Torchia)