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Euroclear announced the launch of the ESES - Euroclear Settlement of Euronext-zone Securities platform. This signifies the first time that market participants in three EU markets, Belgium, France and The Netherlands, can process all fixed-income, equity and other domestic securities transactions using the same platform. Clients no longer have to pay substantially more to settle cross-border transactions between counterparties in these three markets as they now function operationally as one.
With ESES, cross-border transactions between counterparties in Belgium, France and The Netherlands are processed as domestic transactions. As a result, Euroclear is eliminating in the ESES markets the complexities, risks and excess costs of cross-border transactions as identified by the Giovannini Group, the European Commission and many others in the public and private sectors.