Few organisations have set themselves such a technology-driven business strategy as Euroclear, the world’s largest settlement system for securities transactions. In 2002, the bank unveiled its programme to reduce the cost of settling cross-border securities transactions in Europe, an undertaking that would require it to integrate the technology platforms used by the international and national clearing and settlement depositories (CSD) operating within the Euroclear group.
Ignace Combes, deputy CEO of Euroclear, is responsible for steering the group through this vast strategic mission, which reached its first major milestone at the start of 2007 with the creation of Euroclear’s single settlement engine. As with many participants in the trading lifecycle, Euroclear is under more pressure than ever to cut operational costs and deliver these benefits to its clients. This, Mr Combes says, “is a very important driver of our business”.
