Brussels-based ICSD Euroclear has appointed BT Radianz as one of the suppliers of connectivity for clients to its services via the new Common Communication Interface (CCI) it is launching next year. BT Radianz is a provider of longstanding to various Euroclear subsidiaries.
The CCI will serve as the sole interface for Euroclear group clients to access all services offered by each Euroclear operating entity. It is an integral part of Euroclear’s goal to reduce settlement costs by consolidating five processing platforms into one.
The BT service will deploy managed gateways operating over BT’s Shared Market Infrastructure for open, standards-based, authenticated messaging capabilities with non-repudiation for all CCI communication channels (screen, message and file). In addition, BT will offer an Internet screen-based connectivity option.
“As we move forward in creating our single-access gateway to Euroclear, we are pleased with BT’s offer in meeting our requirements for reliable providers of secure and cost-effective messaging services for our new Common Communication Interface,” says Wim Claeys, Managing Director and Head of Strategic Programmes at Euroclear. “Clients migrating to the CCI using BT’s global messaging solutions will benefit from industry messaging standards, strong end-to-end security and high levels of client service, enabling them to achieve significant back-office savings from the CCI.”
Kevin Covington, Executive Vice President of Product & Business Development at BT Radianz, says the appointment comes ten years after BT was appointed to provide the secure messaging SettleNET service for Euroclear subsidiary CREST and five years after BT Radianz began to deliver connectivity to Euroclear Bank and Euroclear France clients. “This agreement marks a significant milestone in BT’s ability to provide top-quality services to the global financial services community in which Euroclear is a key service provider,” he says.
Euroclear recently completed the launch of its Single Settlement Engine, a step towards its proposed ‘domestic market for Europe.’