The migration of the EURO1 settlement process to the ASI was taken forward in close co-operation with Diamis, whose software package CRISTAL is a key component of the EURO1 settlement infrastructure. A powerful tool for managing liquidity and controlling payment flows, CRISTAL is at the core of EBA CLEARINGâs Business Administration System, which manages the connection to the ASI and monitors settlement completion.
âThe EURO1 settlement migration to ASI marks another milestone on EBA CLEARINGâs track record geared at ensuring the highest levels of efficiency, security and resilience for the payment processing of our user banks,â said Alan Taylor, Director of EURO1/STEP1 Services, EBA CLEARING. âWe are very pleased to have successfully completed this migration process in co-operation with our banks and with the support of Diamis. Combining technology expertise and a thorough understanding of our requirements, Diamis is a sound partner for helping us to continuously improve our payment systems.â
Olivier Hache, General Manager of Diamis said: âDiamis is proud of this successful project that confirms our capability to ensure sound operations of mission critical systems for the payments industry. CRISTAL flexibility and Diamisâ expertise in liquidity management have been key factors of success for this improvement that benefits to all major banks throughout Europe.â
Diamis assisted EBA CLEARING in all stages of the ASI migration project, from the definition and development of CRISTAL changes throughout the testing and implementation process, providing the level of operational reliability that is required by EBA CLEARINGâs status as a critical ancillary system within TARGET2.
CRISTAL also supports EBA CLEARINGâs Flexible Settlement Capability, which enables EURO1 Participants to fine-tune their intraday liquidity through pre-funding and liquidity withdrawal procedures.