The European Central Bank has fixed a problem with its system for settling trades in financial securities, which is now operating normally, the ECB said on Wednesday. The Target 2 Securities (T2S) system connects banks in 20 European countries and allows them to transfer securities in exchange for cash across borders. “T2S is now operating normally,” the ECB said in a notice on its website timestamped 1255 Central European Time (1155 GMT). “The incident has been resolved.” The central bank had said at 1220 CET that T2S had suffered an “incident”, which may have caused some transactions to be delayed. The ECB’s ‘parent’ payment system, Target2, which connects banks and central banks around the euro zone and handles payments worth nearly 2 trillion euros ($2.31 trillion) per day, suffered a string of crashes last year, forcing the central bank to launch an independent review and an overhaul. (Reporting By Francesco Canepa Editing by Balazs Koranyi and Jon Boyle)