Clearnet sets November deadline for Belgian CCP switch
06 August 2001 | 2509 views | 0
Clearnet has set a mid-November deadline for the implentation of C21 as the new clearing platform for cash markets in Brussels.
Following an analysis carried out in conjunction with the clearing members in Brussels and their software providers, Clearnet has fixed on 16 November as the conversion date for the Belgian cash markets.
The migration of the participants in Brussels to C21 is the first step in a bid to deliver a single clearing platform for all Clearnet members on their cash transactions.
The Clearing 21 central counterparty platform allows the processing of transactions from all markets in real time using a single tool and enables multilateral netting of positions. Clearing 21 is already used on US derivative markets and on derivative and cash markets in Paris.