The Euroclear group is working with a wide group of stakeholders to secure continuity of settlement for Irish corporate securities post-Brexit. Euroclear UK & Ireland continues its engagement with the relevant authorities to ensure it can continue to service the Irish market in the period immediately following the UK leaving the European Union.
Euronext Dublin announced in December 2018 that Euroclear Bank was its preferred provider of a long term settlement solution for Ireland when Euroclear UK & Ireland would no longer be able to act as CSD in Ireland.
Therefore, Euroclear Bank has set up a Working Group to undertake a detailed market consultation on the operating model for it to become the CSD for Irish corporate securities in the longer term, to be implemented within the deadlines set by the Brexit process.
The Working Group consists of representatives from each market constituency impacted by the change of CSD. A list of its members can be found in the terms of reference. We will update this page with the findings of the Working Group following each meeting. Interested parties should contact their market representative for information or to give input into the Working Group process.
At the same time, Euroclear has established a senior Irish Steering Board to oversee that the proposed solution is in the interest of the Irish market as a whole, with particular attention to risk, efficiency and a timely delivery of the proposed solution.
We aim to publish a White Paper describing the Operating Model for Euroclear Bank as the long term CSD solution for Irish corporate securities in March 2019.
At the same time, Euroclear has established a senior Irish Steering Board to oversee that the proposed solution is in the interest of the Irish market as a whole, with particular attention to risk, efficiency and a timely delivery of the proposed solution.
