23 October 2017
Register now

Euroclear and Clearstream cross the bridge

30 November 2000  |  3754 views  |  0 Euroclear and Clearstream cross the bridge

Clearstream International and Euroclear Bank have signed an agreement to supplement the existing overnight bridge with a new daytime transaction processing capability between the two settlement systems.

The new daytime link for multiple, intra-day exchanges of securities and cash deliveries will commence next year, and will operate manually until an automated solution is available by the end of 2001, the companies say.

Increased efficiency and liquidity, and the potential to distribute new issues of securities on a same-day basis, will be the main benefits of the daytime link, claim the companies.

The rival European depositories have been subject to intense pressure from market participants to develop closer links. In a joint statement, Euroclear and Clearstream say the mutual agreement to evolve the bridge "is a tangible commitment by both organisations to collaborate more closely on developments that will add value to the market".

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

CrestCo prepares to take on European depositories

CrestCo prepares to take on European depositories

18 October 2000  |  2667 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19371 views comments | 28 tweets | 42 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15170 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10979 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
9026 views comments | 14 tweets | 28 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job