Radianz has been selected to provide IP-based network connectivity for a new European commercial paper messaging service being developed by Euroclear, Clearstream and the Depository Trust and Clearing Corporation (DTCC)
The initiative, called the European Pre-Issuance Messaging (EPIM) service, is being built to provide a central messaging hub linking all parties involved in the issuance of euro-commercial paper, including dealers, issuing and paying agents, and international and national central securities depositories.
The new offering is based on PIM, the Pre-Issuance Messaging service created by The Depository Trust Company, a DTCC subsidiary, in 1999.
Initially, Radianz will use its global financial extranet, RadianzNet, to provide the IP connectivity needed to link Euroclear, Clearstream and DTCC. When the EPIM service becomes operational later this year, it will also be possible for other financial institutions to use RadianzNet to connect to it.