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Euroclear Bank extends market coverage

Euroclear Bank is extending its market coverage, offering transaction settlement, custody and tax services for Israeli debt, equities and warrants, and for Romanian government debt securities, effective immediately. These securities are eligible for Euroclear Bank’s securities lending and borrowing programme, as well as for triparty collateral management services.

Over the past two years, Euroclear Bank has broadened its securities coverage and has linked with five Central and Eastern European central securities depositories (CSDs) in the Czech Republic, Hungary, Poland, Slovakia and Slovenia. Euroclear Bank is also working on a range of service enhancements to increase efficiency for clients trading and investing in securities from these countries.

Olivier Grimonpont, Director and head of product management for fixed-income securities and collateral services at Euroclear, said: “We are increasing our market coverage while further improving the quality of services for our clients worldwide. The link with the Romanian CSD is the sixth we have put in place in Central and Eastern Europe. The link with the Israeli CSD reinforces our presence in the Middle East where we already process trades from the Dubai International Financial Exchange. In line with client demand, we will continue to open new links with a regional approach.”

Euroclear Bank provides settlement and related securities services for cross-border transactions involving domestic and international bonds, equities, derivatives and investment funds. Serving major financial institutions located in more than 80 countries, Euroclear Bank, based in Brussels, is part of the Euroclear group. Euroclear Bank is rated AA+ by Standard & Poor's and Fitch Ratings.

The Euroclear group also includes Euroclear Belgium, Euroclear France, Euroclear Nederland and Euroclear UK & Ireland. Euroclear also owns EMXCo, the UK’s leading provider of investment-fund order routing. Euroclear recently signed an agreement to acquire NCSD, comprising the Finnish and Swedish central securities depositories. The total value of securities transactions settled by the Euroclear group was in excess of EUR 560 trillion per annum in 2007, while assets held for clients were valued at more than EUR 19 trillion.