Euroclear has selected BT as one of its key providers of secure messaging services to facilitate two-way client communication through its new Common Communication Interface (CCI). With roll-out commencing in 2008, the CCI will serve as the sole access point for Euroclear group clients to all Euroclear services. It is an integral part of Euroclear’s goal to reduce settlement costs by consolidating five processing platforms into one.
BT will deploy managed gateways operating over BT’s Shared Market Infrastructure for open, standards-based, authenticated messaging capabilities with non-repudiation for all CCI communication channels (screen, message and file). In addition, BT will offer screen-based connectivity over the Internet.
Wim Claeys, Managing Director and Head of Strategic Programmes at Euroclear, said: “As we move forward in creating our single-access gateway to Euroclear, we are pleased with BT’s offer in meeting our requirements for reliable providers of secure and cost-effective messaging services for our new Common Communication Interface. Clients migrating to the CCI using BT’s global messaging solutions will benefit from industry messaging standards, strong end-to-end security and high levels of client service, enabling them to achieve significant back-office savings from the CCI.”
Kevin Covington, Executive Vice President of Product & Business Development at BT Radianz, said: “We are delighted to be selected by Euroclear as one of their key providers of secure messaging services for the new Common Communication Interface. This new contract builds on BT’s ten years of delivering the SettleNET service for secure CREST connectivity and five years of BT Radianz delivering connectivity to Euroclear Bank and Euroclear France clients. This agreement marks a significant milestone in BT’s ability to provide top-quality services to the global financial services community in which Euroclear is a key service provider.”
Euroclear recently completed the launch of its Single Settlement Engine, the first major milestone in delivering a ‘domestic market for Europe’ for domestic and cross-border securities transactions.
Euroclear is the world's largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions. User owned and user governed, the Euroclear group comprises Euroclear Bank, based in Brussels, as well as Euroclear Belgium, Euroclear France, Euroclear Nederland and CRESTCo, the central securities depositories of Belgium, France, the Netherlands, and the UK and Ireland, respectively. Euroclear recently acquired EMXCo, the UK’s leading provider of investment-fund order routing. The total value of securities transactions settled by the Euroclear group is in excess of EUR 450 trillion per annum, while assets held for clients are valued at more than EUR 18 trillion. Euroclear Bank is rated AA+ by Standard & Poor's and Fitch Ratings. For more information, please consult www.euroclear.com.
BT is one of the world’s leading providers of communications solutions and services operating in 170 countries. Its principal activities include networked IT services, local, national and international telecommunications services, and higher-value broadband and internet products and services. BT consists principally of four lines of business: BT Global Services, Openreach, BT Retail and BT Wholesale. In the year ended 31 March 2006, BT Group plc’s revenue was £19,514 million with profit before taxation of £2,040 million. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. For more information, visit www.bt.com/aboutbt.
BT Radianz is one of the leading providers of secure, reliable, and scalable connectivity and hosting to the global financial services community. BT Radianz’s shared market infrastructure offers a platform optimised for the time-critical demands unique to financial services. The BT Radianz network connects over 10,000 financial sites around the world through a single, redundant, fully-managed connection, while also providing access to more than 550 pre-trade, trade, and post-trade applications from 250 of the world's leading content and service providers across the straight-through processing (STP) chain. BT Radianz is part of BT Global Services. For more information, visit www.btradianz.com.
