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Euroclear Bank, Euroclear Belgium, Euroclear France, Euroclear Nederland and CRESTCo have each signed the Code of Conduct for Clearing and Settlement, in line with the objectives of the European Commission.
Pierre Francotte, Chief Executive Officer of Euroclear SA/NV, said:
"Euroclear strongly supports Commissioner McCreevy’s Code of Conduct as a means to deliver greater transparency and access for users of European trading, clearing and settlement services more quickly than a directive would have been able to achieve.
Even though the Code will apply initially to equities only, the international central securities depository and all the national central securities depositories of the Euroclear group intend to apply the Code from the outset to all asset classes, including fixed income, to ensure continued momentum.”
