You can download the Target Annual Report for 2010 here.
The report includes numbers such as the total volume of transactions which was €593,194 billion - up from €551,174 billion in 2009. It will be interesting to see the numbers for 2011, which I imagine will be even higher.
The report notes that "interbank transactions accounted for a vast majority of the system’s turnover, at a share of 94%, with the remaining proportion being made up of customer transactions." We also learn that
- the average value of a TARGET2 transaction was €6.7 million;
- two-thirds of all TARGET2 payments (i.e. 65%) had a value of less than €50,000 each; 11% of all payments had value of over 1 EUR million;
- the peak in turnover was on 30 June 2010, with 504,124 transactions with a value of €3,673 Billion.
- TARGET2’s share in total large-value payment system traffic in euro was 90.5% in value terms and 59.9% in volume terms;
- 99.74% of TARGET2 payments were processed in less than five minutes.
Sounds like putting a 0.1% FTT on all Target2 transactions would be a very good way of generating revenue. Imagine what could be done with nearly €600 billion of revenue.