12 December 2017
visit www.aciworldwide.com

Euroclear reports record turnover for 2003

26 February 2004  |  3925 views  |  0 Euroclear reports record turnover for 2003

European securities depository Euroclear is reporting record levels of turnover for 2003, with the value of securities transactions settled hitting EUR256.2 trillion, a six per cent increase from EUR241.9 trillion in 2002.

Euroclear says each entity of its custody business grew in 2003, with a combined increase of nine per cent from the EUR10.9 trillion reported for year-end 2002.

However the number of netted transactions settled was down from 123 million in 2002 to 114 million in 2003. Euroclear says this trend reflects the group's expanding use of clearing services from netting and central counterparty service providers.

The value of securities held by Euroclear for clients at year-end 2003 was EUR 11.9 trillion.

The combined average daily value of collateral provision outstanding in Euroclear Bank and Crest rose to EUR257.4 billion in 2003, up 16% from EUR 222.5 billion in 2002.

Last December Euroclear Bank announced plans to rebate EUR30 million to customers that used its clearing, settlement and custody services in 2003 and said it was cutting tarrifs by EUR24 million in 2004.

Commenting on the latest results, Pierre Francotte, CEO, Euroclear Bank, says: "As Euroclear moves forward with its plans to deliver a consolidated and more harmonised settlement infrastructure for Europe, our business growth allows us to further improve our services and to pass on to our customers the benefits of increasing economies of scale."
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Euroclear renews Radianz contract

Euroclear renews Radianz contract

09 February 2004  |  3867 views  |  0 comments
Euroclear rebates EUR30 million; stalls settlement engine integration

Euroclear rebates EUR30 million; stalls settlement engine integration

11 December 2003  |  3279 views  |  0 comments
Euroclear adds money market funds to processing platform

Euroclear adds money market funds to processing platform

12 November 2003  |  3290 views  |  0 comments
Euroclear to hook into Singapore's Electronic Payment System

Euroclear to hook into Singapore's Electronic Payment System

23 October 2003  |  3938 views  |  0 comments
Euroclear overhaul to address risk, transparency concerns

Euroclear overhaul to address risk, transparency concerns

20 October 2003  |  3204 views  |  0 comments
Euroclear launches EUR100 million business continuity programme

Euroclear launches EUR100 million business continuity programme

13 October 2003  |  5441 views  |  0 comments
Euroclear and Clearstream build Bridges

Euroclear and Clearstream build Bridges

30 July 2003  |  8107 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit http://info.nice.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18950 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11732 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8520 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7018 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6504 views comments | 19 tweets | 11 linkedin

Featured job

Find your next job