Single Platform Migration - Introduction
Euroclear Finland and Euroclear Sweden intend to transfer its accounts and register services and its transaction-processing activities to Euroclear’s Single Platform in mid 2012, immediately after completion of the Single Platform, which is planned for 2011.Once the platforms of Euroclear Finland and Euroclear Sweden are integrated within the Euroclear group, it will be possible for clients of these Central Securities Depositories (CSDs) to access the post-trade infrastructure covering all markets served by Euroclear efficiently and cost effectively as in their respective domestic markets thanks to harmonised functionalities and a single communication access. This will be accomplished by utilising a multi-jurisdictional model, whereby securities held under different legal regimes in different countries are accessible and transferable through the Euroclear’s infrastructure. Euroclear is currently offering CSD services in the markets of Belgium, France, the Netherlands, United Kingdom, Ireland, Finland and Sweden. Furthermore, (I)CSD services are offered to a multitude of markets via Euroclear Bank.
The migration to the Single Platform will deliver significant benefits to the Finnish and Swedish market; market participants will find saving opportunities in back-offices through systems consolidation and through the use of harmonised practices. The range of services from the CSDs will be widened with new services, for example in the area of collateral management, market claims and transformations, and there will be enhancements in existing services such as for example in corporate actions messaging.
