Fair & Clear welcomes Commission’s Communication on Clearing and Settlement

28 April 2004

Fair & Clear, an association of custodian banks engaged in providing post-trade securities services in Europe, welcomes the Commission’s Communication on Clearing and Settlement. The association believes the Communication provides a balanced basis for a constructive dialogue with all interested stakeholders. The invitation for comments on the business model of the central securities depository (“CSD”) in the United States, which like most CSDs in Europe does not take credit risk on its members, will particularly help the market focus on the desirability of a credit-risk free infrastructure model for Europe.

Fair & Clear is an association of custodian banks engaged in providing post-trade securities services in Europe. The Association seeks to promote the creation of a consolidated securities settlement infrastructure in Europe, supported by an open banking model. The member banks are BNP Paribas Securities Services, Citigroup, Skandinaviska Enskilda Banken (SEB), DnB NOR.

Press release

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