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.