21 October 2017
Find out more

Euroclear reports record turnover for 2003

26 February 2004  |  3896 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  |  3844 views  |  0 comments
Euroclear rebates EUR30 million; stalls settlement engine integration

Euroclear rebates EUR30 million; stalls settlement engine integration

11 December 2003  |  3258 views  |  0 comments
Euroclear adds money market funds to processing platform

Euroclear adds money market funds to processing platform

12 November 2003  |  3269 views  |  0 comments
Euroclear to hook into Singapore's Electronic Payment System

Euroclear to hook into Singapore's Electronic Payment System

23 October 2003  |  3916 views  |  0 comments
Euroclear overhaul to address risk, transparency concerns

Euroclear overhaul to address risk, transparency concerns

20 October 2003  |  3186 views  |  0 comments
Euroclear launches EUR100 million business continuity programme

Euroclear launches EUR100 million business continuity programme

13 October 2003  |  5420 views  |  0 comments
Euroclear and Clearstream build Bridges

Euroclear and Clearstream build Bridges

30 July 2003  |  8060 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.sibos.comvisit www.atos.net

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9311 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8781 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7902 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7419 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
7058 views comments | 14 tweets | 27 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job