Made available on a trial basis to a limited set of customers in 1967, it was never officially released as a supported product by IBM.

A pair of Model 67 mainframes shared a common physical memory space, and ran a single copy of the kernel (and application) code.

The Model 67 used a standard 360 instruction called Test and Set to implement locks on code critical sections.

TSS/360 suffered from performance and reliability problems and lack of compatibility with OS/360, although those issues were eventually addressed.

IBM attempted to develop TSS on a very aggressive schedule with a large staff of programmers to compete with Multics.

During the conference, IBM announced via "blue letter" that TSS/360 was being decommitted – a great blow to the time-sharing community.

After TSS/360 was canceled, IBM put its primary efforts into the Time Sharing Option (TSO), a time-sharing monitor for OS/360.

Several other groups developed less ambitious, more successful time sharing systems for the S/360-67, notably CP-67 at IBM's Cambridge Scientific Center, an early virtual machine monitor which evolved into VM/370, MTS at the University of Michigan, and ORVYL at Stanford University.