Euroclear Bank Enhances Securities Infrastructure

As part of an ongoing programme of measures to improve interoperability with local markets, Euroclear Bank has announced an enhancement to its securities lending and borrowing infrastructure. A new pricing structure is set to be introduced that will reduce clients’ intra-day borrowing costs by as much as 30 per cent, according to Euroclear. Effective from 11 April 2005, two new real-time process windows – one in the early morning and one in late afternoon – will be added to the existing lending and borrowing programme. These additions will further facilitate transaction flows between Euroclear Bank clients and non-Euroclear Bank clients and help to mitigate so-called ‘gridlock risk’, i.e. the risk of trades failing due to reduced settlement liquidity as a result of the lack of synchronised settlement timings between different settlement systems.

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