On September 19th the newly adopted Establishing Regulations for ETIAS were published in the Official Journal of the European Union. This is the last step towards the Regulations becoming final legislation. Regulations 2018/1240 and 2018/1241 will enter into force on October the 9th 2018.
ETIAS is a pre-travel authorisation system for visa exempt travellers. Its key function is to verify if a third country national meets entry requirements before travelling to the Schengen area. The information submitted, via an online application ahead of their arrival at borders enabling pre-travel assessment of irregular migration risks, security or public health risk checks. This shall be done by automatically processing each application submitted against EU and relevant Interpol databases, and a dedicated ETIAS watch-list whilst respecting clearly defined screening rules.
Read more about ETIAS, the full Regulation and a factsheet here.