The migration of the participants in Amsterdam to C21® is an important step of the move to a single clearing platform for all Clearnet members in Amsterdam, Brussels and Paris on their cash transactions. In Brussels, migration to C21® will take place on 1 March 2002. This migration follows the succesful implementation of the Euronext market model on one trading system in October 2001.
Clearnet is the first European clearing house to implement the full merger of three existing central counterparties (CCP). This merger involves a legal step implemented early this year as well as a technical roll-out of the C21® clearing system to all the members in Amsterdam and Brussels.
Clearing21® is an advanced clearing system providing a standard for the CCP industry. It allows the processing of transactions from all markets in real time using a single tool and enables multilateral netting of positions. Clearing 21® is used on US derivative markets and on derivative and cash markets in Paris.
Euronext is the first pan-European exchange created in September 2000 by the merger of the Amsterdam, Brussels and Paris exchanges. As of 30 November 2001, 1,559 companies were listed on Euronext regulated markets representing a market capitalisation of EUR 1,946 billion. From January to November 2001 a total of 372 million futures and options contracts were traded on Euronext markets.
