Clearstream and Euroclear extend bridge links

Clearstream and Euroclear extend bridge links

Clearstream Banking has signed an agreement with Euroclear to extend the existing bridge arrangements between the two international agencies.

Under the agreement, Clearstream Banking customers will, for the first time, be able to settle backlog transactions from the previous night time processing (NTP) cycle during the day.

The initiative represents an important step towards the delivery of a fully automated daytime bridge between the two organisations. In supporting the daytime processing of backlogged transactions pending from the previous NTP, the arrangement will increase settlement efficiency between the two operators.

Clearstream Banking aims to deliver a fully automated daytime bridge by the end of 2002.

Closer integration between the two international agencies comes ahead of a decision by Clearstream on a potential merger with Euroclear. The Luxembourg-based depository is currently evaluating proposals from Deutsche Borse and Euroclear.

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