Euroclear, which provides settlement services for bond and equity transactions, has selected BT to provide secure messaging services to handle communications with its clients.
The two-way messaging service will run through a new common communication interface (CCI), which will act as a single interface for clients to access services provided by all Euroclear’s businesses. The new interface will consolidate five existing platforms into one, in a move that is expected to reduce settlement costs.
BT’s service will deploy managed gateways operating over its shared market infrastructure for open, standards-based, authenticated messaging. The contractor will offer connectivity via the internet.
Wim Claeys, managing director at Euroclear, said: “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.”