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Each of the Euroclear national and international central securities depositories (CSDs) intend to apply the guidelines on ‘access and interoperability’, as proposed jointly by the ECSDA, EACH and FESE as part of the Code of Conduct.
Paul Symons, Director and head of Public Affairs at Euroclear, said: “Euroclear has always been a supporter of choice and fair competition between settlement infrastructure providers to best serve the post-trade requirements of market participants. The Code of Conduct is making this process more open and transparent. We intend to apply the new access and interoperability guidelines, and will continue our work to harmonise market rules and practices while consolidating processing platforms within the Euroclear group. The combination of these efforts will deliver a domestic and cross-border settlement environment in Europe with substantially lower costs to clients.”
Euroclear is the world’s largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions. Market owned and market governed, the Euroclear group includes Euroclear Bank, based in Brussels, as well as Euroclear Belgium, Euroclear France, Euroclear Nederland and Euroclear UK and Ireland, 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 Euroclear 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.
