Following the successful implementation of EuroCCP’s settlement arrangements in the Norwegian market, EuroCCP is pleased to announce that all settlement instructions with Trade Date 3 November 2016 have been successfully delivered to the Norwegian Central Securities Depository (VPS) by EuroCCP.
This important milestone demonstrates EuroCCP’s commitment to providing its clients with the most efficient access to local markets, which improves settlement efficiency and reduces costs. With the recent implementation of T2S in the ESES markets and now the direct link in the Norwegian market, EuroCCP now settles directly in 13 of the 19 markets serviced. EuroCCP will continue to support direct access to local markets.
Those settlement instructions sent by EuroCCP to the Settlement Agent on behalf of a Clearing Participant, under a POA, have also been delivered by End of Day Thursday 3 November 2016.
Monday 7 November 2016 is the first Intended Settlement Date for settlement instructions that settle through EuroCCP’s new account with VPS.
We would like to remind our Clearing Participants that settlement instructions with a Trade Date prior 3 November 2016 must settle through the account with EuroCCP’s Settlement Agent.