Euroclear Bank and Clearstream are launching a new industry framework developed with the International Securities Market Advisory Group (ISMAG). The framework sets standards for the securities issued in and primarily deposited with the international central securities depositories (ICSDs), with outstanding levels close to €9 trillion.
Banks, including BNP Paribas Securities Services, Citibank NA Issuer Services, European Investment Bank and KfW, have supported the plans. The standards have been developed following a three-year program, led by ISMAG, to establish best practices, with an aim to reduce inefficiencies, costs and risks.
Click here for the release from Clearstream.