Stockholm
08 January 2016
Reporter: Stephanie Palmer
Euroclear starts work on Swedish CSD system
Euroclear is set to start development of its new Swedish central securities depository (CSD) system.

The new system is intended to bring benefits of standardisation to the market and to increase flexibility for participants, while also helping to ensure compliance with new CSD regulation.

The change is partially a response to the new European regulatory landscape, and the pressure for CSDs and market participants to adapt their systems and operations quickly.

In order to help Euroclear Sweden to comply as effectively as possible, along with the market it opted to create a new Swedish CSD system rather than upgrading the existing one.

The new system will be built on the same platform being rolled out for Euroclear Finland, with the additional implementation of specific Swedish requirements.

Niels Van Hee, head of application development of maintenance, said: "In the medium-term, the new system, built around ISO standards, will allow our clients to harmonise and standardise their own processes, potentially leading to cost reductions."

He added: "In the long-term, with a more flexible system, we will be in a better position to upgrade our offering and provide new services to the market."

System will be built on the same platform being rolled out for Euroclear Finland, with the additional implementation of specific Swedish requirements.

Work has begun on meeting with market participants to inform them on the status of the project and the time frame. Discussions will involve several reference groups, with participation from Euroclear Sweden as well.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
MiFID II unbundling compliance will be last-minute scramble for 85 percent
23 June 2017 | London | Reporter: Stephanie Palmer
Asset managers are cutting it fine in compliance with research unbundling rules under MiFID II, with 85 percent saying they expect to be compliant in Q4 2017 or later, ahead of the January 2018 deadline
ICMA: NSFR will make EU repo less attractive
23 June 2017 | London | Reporter: Drew Nicol
The association also point to increased automation of highly manual and labour-intensive processes of the market as a way to mitigate rising costs and create efficiencies
Caceis welcomes two new clients to TEEPI
23 June 2017 | Luxembourg | Reporter: Stephanie Palmer
Swiss Life Global Solutions, a Luxembourg-based insurance and wealth management provider, and European asset manager Amundi have joined the Caceis Tailored Electronic Exchange Platform for Investors
ECB to launch new faster payments system
22 June 2017 | Frankfurt | Reporter: Stephanie Palmer
The European Central Bank (ECB) is expanding its TARGET 2 instant payments system to facilitate retail payments throughout Europe
Clients demand innovation in custody
22 June 2017 | New York | Reporter: Stephanie Palmer
Custodians must embrace new technologies if they’re to survive in the digital age, according to a survey of sell-side executives by BNP Paribas Securities Services and TABB Group
Citi recruits Matthew Bax
21 June 2017 | London | Reporter: Barney Dixon
Citi has hired Matthew Bax as its Europe, Middle East and Africa (EMEA) head of sales for custody and fund services
Denise Voss re-elected as ALFI chair
21 June 2017 | Luxembourg | Reporter: Stephanie Palmer
The Association of the Luxembourg Funds Industry has re-elected Denise Voss to serve a further two years as chair of the board of directors
More news