Existing EUCLID PC/Server clients include broker-dealers, global custodians, commercial banks and central banks. EUCLID PC/Server is used in 80 countries to access Euroclear Bank's settlement and custody services as well as money transfer, securities lending and borrowing, and collateral management services.

Euroclear Bank has asked its EUCLID PC/Server clients to migrate from Euroclear Bank's current X.25 provider by the end of 2005. Euroclear Bank is leveraging the SWIFTNet messaging platform that the entire SWIFT community migrated to in the course of 2003 and 2004. Clients that choose to use SWIFTNet will be able to re-use their SWIFTNet infrastructure for EUCLID PC/Server applications, with the additional benefit of increased security with SWIFTNet PKI (Public Key Infrastructure).

EUCLID PC/Server via SWIFTNet will be available in the third quarter 2005 (currently scheduled for July). A number of important clients have already committed to implementing the SWIFTNet option.

Martine Dinne, Chief Executive Officer of Euroclear Bank, said, "In response to client requests for greater SWIFTNet access, Euroclear Bank is now extending a new element of choice to our customers, many of which are already using SWIFTNet. SWIFT's support services will be an important asset during the upcoming migration phase."

"We are pleased that Euroclear Bank and SWIFT have decided to offer SWIFTNet to Euroclear Bank's EUCLID PC/Server users. SWIFT has always been at the service of market infrastructures and their clients, helping them in their efforts to standardise communication platforms, offer new services and reduce costs," commented Francis Remacle, Head of Securities, SWIFT. "International central securities depositories, such as Euroclear Bank, are important strategic entities to help extend the reach of SWIFTNet."

Euroclear Bank is leveraging its SWIFTNet infrastructure for clients through an MA-CUG (Member Administered Closed User Group) utilising SWIFTNet InterAct and FileAct for settlement instructions and reporting.