PRESS RELEASE

Updated assessment of links between securities settlement systems

10 May 2000

On 9 May 2000 the Governing Council of the European Central Bank approved 12 further links between securities settlement systems (SSSs) which can be used for the transfer of foreign collateral in the Eurosystem's monetary policy and intraday credit operations.

Including the links approved by the Governing Council on 20 May and 7 October 1999 and 3 February, the total number of links which are currently eligible for use by the Eurosystem has therefore increased from 53 to 65 (see the table below).

The increase in the number of links between SSSs is a key factor in the integration of the euro area financial markets. The assessment of SSSs and their links against ECB standards ensures an even and high standard for the European securities infrastructure.

The updated list of links can be found on the ECB's Web site, together with the dates for the future assessment of links. The 5th assessment of links will be launched on 1 August 2000.

Table: List of eligible links

Country Eligible links
BELGIUM CIK to Sicovam (France) CIK to Monte Titoli (Italy) CIK to Necigef (Netherlands) Euroclear to NBB SSS (Belgium) Euroclear to Clearstream (Luxembourg) Euroclear to Clearstream (Germany) Euroclear to OeKB (Austria) Euroclear to VP (Denmark) Euroclear to CGO (United Kingdom) Euroclear to Necigef (Netherlands) Euroclear to BdI CAT (Italy) Euroclear to Sicovam (Belgium) Euroclear to Monte Titoli (Italy)
GERMANY Clearstream (Germany) to Sicovam (France) Clearstream (Germany) to Necigef (Netherlands) Clearstream (Germany) to OeKB (Austria) Clearstream (Germany) to APK (Finland) Clearstream (Germany) to Clearstream (Luxembourg) Clearstream (Germany) to CADE (Spain) Clearstream (Germany) to Monte Titoli (Italy)
FRANCE Sicovam to Clearstream (Germany) Sicovam to Necigef (Netherlands) Sicovam to Monte Titoli (Italy) Sicovam to OeKB (Austria) Sicovam to NBB SSS (Belgium) Sicovam to CADE (Spain) Sicovam to APK (Finland) Sicovam to CIK Sicovam to Clearstream (Luxembourg) Sicovam to SCLV (Spain) Sicovam to Euroclear (Belgium)
ITALY Monte Titoli to Euroclear (Belgium) Monte Titoli to Clearstream (Germany) Monte Titoli to Sicovam (France) Monte Titoli to OeKB (Austria) Monte Titoli to SCLV (Spain) Monte Titoli to CADE (Spain) Monte Titoli to Necigef (the Netherlands)
AUSTRIA OeKB to Euroclear (Belgium) OeKB to Clearstream (Germany) OeKB to Sicovam (France) OeKB to Monte Titoli (Italy) OeKB to Necigef (Netherlands) OeKB to Clearstream (Luxembourg)
SPAIN CADE to Clearstream (Germany) CADE to Sicovam (France) CADE to Monte Titoli (Italy) CADE to Necigef (the Netherlands) SCLV to Monte Titoli (Italy) SCLV to Sicovam (France)
LUXEMBOURG Clearstream (Luxembourg) to Euroclear (Belgium) Clearstream (Luxembourg) to CGO (United Kingdom) Clearstream (Luxembourg) to Clearstream (Germany) Clearstream (Luxembourg) to NBB SSS(Belgium) Clearstream (Luxembourg) to BdI CAT (Italy) Clearstream (Luxembourg) to OeKB (Austria) Clearstream (Luxembourg) to VP (Denmark) Clearstream (Luxembourg) to Necigef (the Netherlands) Clearstream (Luxembourg) to Sicovam (France) [a]
THE NETHERLANDS Necigef to Sicovam (France) Necigef to Clearstream (Germany) Necigef to OeKB (Austria) Necigef to CADE (Spain)
FINLAND APK to Clearstream (Germany) APK to Sicovam (France)

[a] This link was inserted by mistake. It is not operational, and therefore not eligible.

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