Single Settlement Engine - Overview
Following the merger of Crestco and Euroclear in 2002 the process of consolidating and harmonising all Euroclear group services commenced. The result of this consolidation is the Single Platform. This was designed to provide a domestic market for Europe.
The first stage of implementing this plan is the Single Settlement Engine (SSE) which is to bring the group CSD's settlement systems together on a single platform.
To mitigate risk, this was implemented in three phases:
December 2004 - This release allowed the SSE to receive data on Securities, Participants, Member Accounts, CMAs, LMAs, Caps, Bank Margins etc. This stage of the implementation did not affect Crestco clients - it happened 'behind the scenes'.
May 2006 – SSE launched in Euroclear France
August 2006 – SSE launched in Euroclear UK and Ireland
January 2007 – SSE launched in Euroclear Bank
Euroclear Belgium and Euroclear Nederland will migrate to the SSE as part of ESES.
For full details of the changes made in CREST in preparation for the launch of the Single Settlement Engine click here.
Registered Office: Ascension House, First Avenue, Burton-on-Trent, DE14 2WW
Safe Financials Limited is registered in England and Wales, number 3745781.
VAT Number 737 5294 07
Copyright © 2010 Safe Financials Ltd. All rights reserved.