Euroclear unveils plan for unified EU post-trade infrastructure
16 July 2025 Belgium
Image: VladDarii/stock.adobe.com
Euroclear has announced an initiative to deliver a fully integrated post-trade infrastructure across all 27 EU member states and all financial asset classes, in a move designed to advance market efficiency, competition and innovation across the Bloc.
The plan aligns with the European Commission’s ambitions for a Savings and Investments Union (SIU) and aims to position Europe as a globally attractive destination for both issuers and investors. Euroclear’s roadmap includes centralised access to equities, fixed income and all categories of funds — underpinned by a harmonised framework spanning both central bank and commercial bank money settlement.
Key to the initiative is the full connection of Euroclear Bank to the European Central Bank’s TARGET2-Â鶹´«Ã½ (T2S) platform. This will provide central bank money access to all EU CSDs and complement the commercial bank money services currently offered across the group. Euroclear plans to complete commercial bank money access by 2026 and accelerate its T2S connectivity thereafter.
Euroclear will also enhance operational synergies between its six local central securities depositories (CSDs) and Euroclear Bank, with the goal of delivering a single point of entry to EU markets for post-trade services. The group says this will support greater liquidity, reduced market fragmentation and more efficient access to Europe’s financial infrastructure.
As part of the initiative, Euroclear intends to expand its issuer services, facilitate broader access to the EU investor base, and support retail and institutional flows into equities, mutual funds and alternative investment products. The group will also build on its established collateral management capabilities to bolster market liquidity and financial stability, and collaborate with central banks and market stakeholders to advance digital infrastructure solutions.
Euroclear currently holds over 50 per cent of all securities issued in the EU and processes more than 60 per cent of the Bloc’s settlement turnover. The group’s latest strategy includes a set of policy priorities and regulatory recommendations, calling for greater alignment across EU financial market infrastructure, enhanced competition, improved asset servicing efficiency and expanded support for digital assets and distributed ledger technology.
The plan aligns with the European Commission’s ambitions for a Savings and Investments Union (SIU) and aims to position Europe as a globally attractive destination for both issuers and investors. Euroclear’s roadmap includes centralised access to equities, fixed income and all categories of funds — underpinned by a harmonised framework spanning both central bank and commercial bank money settlement.
Key to the initiative is the full connection of Euroclear Bank to the European Central Bank’s TARGET2-Â鶹´«Ã½ (T2S) platform. This will provide central bank money access to all EU CSDs and complement the commercial bank money services currently offered across the group. Euroclear plans to complete commercial bank money access by 2026 and accelerate its T2S connectivity thereafter.
Euroclear will also enhance operational synergies between its six local central securities depositories (CSDs) and Euroclear Bank, with the goal of delivering a single point of entry to EU markets for post-trade services. The group says this will support greater liquidity, reduced market fragmentation and more efficient access to Europe’s financial infrastructure.
As part of the initiative, Euroclear intends to expand its issuer services, facilitate broader access to the EU investor base, and support retail and institutional flows into equities, mutual funds and alternative investment products. The group will also build on its established collateral management capabilities to bolster market liquidity and financial stability, and collaborate with central banks and market stakeholders to advance digital infrastructure solutions.
Euroclear currently holds over 50 per cent of all securities issued in the EU and processes more than 60 per cent of the Bloc’s settlement turnover. The group’s latest strategy includes a set of policy priorities and regulatory recommendations, calling for greater alignment across EU financial market infrastructure, enhanced competition, improved asset servicing efficiency and expanded support for digital assets and distributed ledger technology.
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