Euroclear unveils plan for post-trade infrastructure connecting all 27 EU markets
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This initiative, aimed at enhancing the efficiency and effectiveness of European market infrastructure, will support the Savings and Investments Union's (SIU) ambitions and ensure Europe remains the 'go-to place' for investors and issuers globally.
Euroclear's ambitious project will bring a number of significant benefits, including providing seamless connectivity across the single market, encouraging healthy market competition, promoting financial stability, and fostering innovation and accelerated technology adoption. To do so, Euroclear builds on the know-how, scale and global connectivity of its unique model: combining the leading international Central Securities Depository (Euroclear Bank) with its six local CSDs in Europe. This open-model positions Euroclear as Europe's gateway to the world - enabling it to connect global markets, drive innovation and unlock further efficiency.
Euroclear commits to provide a single point of access to all 27 Member States across all financial asset classes – equities, fixed income and all types of funds, by:
• Offering both central bank money and commercial bank money access to all EU CSDs by accelerating the full connection of Euroclear Bank to the European Central Bank's Target2-Securities (T2S) platform.
• Delivering more efficient and integrated services through enhanced synergies between Euroclear's local CSDs as well as with Euroclear Bank.
This action plan will see Euroclear continue to invest in infrastructure and services that contribute to a more efficient single market:
• Providing a pan-European infrastructure for issuers seeking access to a broad investor ecosystem, deep liquidity and cost-effective issuer services.
• Enhancing post-trade infrastructure to channel retail and institutional investment towards equities, mutual and alternative fund products.
• Building on our leading collateral management solutions to enhance liquidity and stability in global financial markets.
• Working with central banks and market participants on the development of next-generation digital infrastructure.
To implement this action plan, Euroclear's focus will be to complete Euroclear Bank's commercial bank money access to all 27 EU Member States by 2026. In parallel, we will accelerate Euroclear Bank's connection to T2S to offer Central Bank Money access thereafter.
Valérie Urbain, Euroclear's CEO, commented: "The key to more liquid and effective capital markets in Europe is through driving market openness, interconnectivity and maximising choice for users. Only under these conditions can European markets truly thrive and remain competitive at a global level. Today, we are committed to making Euroclear the single-entry point for all asset classes including funds, fixed income and equities across the 27 Member States."
Euroclear has been actively contributing to the financing of the European economy and integration of European markets over decades. Today, as the largest CSD group in Europe, Euroclear holds over 50% of all securities issued in the EU and represents over 60% of EU settlement turnover.
To support these efforts, Euroclear has outlined several policy priorities and recommendations [https://www.euroclear.com/content/dam/euroclear/news%20&%20insights/Format/PDFs/2025/Euroclear-Policy-Paper_SIU_July-2025.pdf] for European policymakers and market participants. These include enabling FMI group integration and regulatory simplification, strengthening open access and competition, fostering legal and regulatory convergence, optimizing settlement and asset servicing, scaling digital assets and DLT infrastructures, and enhancing supervisory consistency.
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