Euroclear to Launch DLT-based Bond Settlement Platform for Improved Efficiency and Transparency
According to reports, Bart Garr é, a legal adviser to Euroclear, a traditional financial services facility giant, said that it is likely to launch its distributed ledger technology
According to reports, Bart Garr é, a legal adviser to Euroclear, a traditional financial services facility giant, said that it is likely to launch its distributed ledger technology (DLT) based bond settlement platform as soon as this year, which aims to improve the efficiency and transparency of the bond settlement process.
The traditional financial giant Euroclear will launch a bond settlement platform based on distributed ledger technology as soon as this year
In the world of finance, Euroclear is a company that is well known for its traditional financial services facilities. The platform is renowned for offering outstanding global settlement, custody, and asset servicing solutions to a wide range of clients. Recently, reports indicate that the company is planning to launch its distributed ledger technology (DLT) based bond settlement platform as soon as this year.
What is Euroclear?
Before exploring Euroclear’s latest initiative, let us first take a look at what Euroclear is, its history, and its role in the finance industry. Euroclear is a global securities infrastructure that provides various services, such as settlement, custody, and asset servicing, to financial market participants, such as banks, investment managers, central banks, and corporations.
Euroclear was established in 1968 as an International Central Securities Depositary (ICSD) to streamline securities settlement within the Eurobond market. Currently, Euroclear operates through two subsidiaries: Euroclear Bank in Belgium, and Euroclear UK and Ireland (EUI) in the UK.
Euroclear’s DLT-based Bond Settlement Platform
Bond settlement, which is a fundamental component of capital markets, refers to the process of transferring bonds from the seller’s account to the buyer’s account, including the settlement of related cash flows. In the past, the bond settlement process has been complex, time-consuming, and expensive, with multiple parties involved, including clearing houses, depositories, and central securities depositories.
To address these inefficiencies, Euroclear has been developing its DLT-based bond settlement platform, which is set to launch this year. The platform aims to offer improved efficiency and transparency to the bond settlement process by using DLT to create a shared digital records of ownership, thereby eliminating the need for intermediaries and reducing settlement times.
Furthermore, Euroclear’s platform will leverage smart contracts to improve automation, ensuring that the bond settlement process is executed in a more streamlined and cost-effective manner. The result of this initiative will be more secure, faster, and cheaper bond settlements for market participants.
Benefits of Euroclear’s DLT-based Bond Settlement Platform
Euroclear’s DLT-based bond settlement platform offers several benefits to participants in the bond market.
Efficiency
The platform will offer a more streamlined, faster, and cost-effective bond settlement process, reducing the need for intermediaries and the associated costs. This initiative will be a significant step towards more efficient capital markets.
Transparency
The use of DLT and smart contracts will create a shared digital record of ownership, resulting in a more transparent bond settlement process.
Security
The DLT-based platform will offer more secure bonds settlements by eliminating the need for intermediaries, reducing the risk of errors, fraud, and cybersecurity breaches.
Conclusion
Euroclear has been a key player in the financial industry for over 50 years, providing outstanding global settlement, custody, and asset servicing solutions. Its recent initiative to launch a DLT-based bond settlement platform aims to improve efficiency and transparency in the bond market. The use of smart contracts and shared digital records of ownership will streamline the bond settlement process and reduce intermediaries’ costs. Euroclear’s platform is set to be a significant step towards a more efficient capital market.
FAQs
1. What is Euroclear?
Euroclear is a global securities infrastructure that provides various services, such as settlement, custody, and asset servicing, to financial market participants.
2. What is a bond settlement?
A bond settlement refers to the process of transferring bonds from the seller’s account to the buyer’s account, including the settlement of related cash flows.
3. When is Euroclear’s DLT-based bond settlement platform set to launch?
Euroclear’s DLT-based bond settlement platform is set to launch this year.
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