Euroclear to Launch New Model of Euro Settlement

Euroclear UK & Ireland (EUI) has confirmed that its project to develop alternative arrangements for Euro settlement is getting closer to an end, and it will be launching the new model of Euro settlement for 29 March 2021.

These new arrangements will enable EUI to offer Euro settlement in central bank money alongside its existing central bank money settlement arrangements for GBP and USD.

CREST (the central securities depository for markets in the United Kingdom and for Irish stocks) participants are not impacted by the changes, which only affects how the CREST settlement banks provide EUI with their Euro liquidity.

EUI has been working closely with the settlement banks who are now fully prepared for the changes in how they supply their Euro liquidity to support their clients settlement.

Central bank money settlement in all EUI 3 currencies, offers the optimum form of cash settlement of client transactions and is a cornerstone of its support to Issuers, allowing the execution of corporate actions and payment of dividends in CREST in currencies that best suits the needs of the issuers and their investors.