EUROCLEAR CHIPS PROCEDURES

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Posted by ferns (Monday, September 25, 2006)
EUROCLEAR CHIPS PROCEDURES

Please can anyone explain to me how EUROCLEAR CHIPS works, idelly are there any specific procedures for buyers and sellers to follow?

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10-01-06 sapphirecapital: Now Euroclear (http://www.euroclear.com/wps/portal) is the world largest securities transaction clearing system and forms in tadem with Clearstream a fluent system for settlement through the 2 depositaries Euroclear bank and Clearstream Banking Luxembourg a closed circuit system with a membership requirement. (our network has a link in , its not cheap but neither expensivee and a great tool). If I remember right it has a software link to the SWIFT system for the payment messaging part of securities transaction settlement. SWIFT started this in 2000 and I believe that has been completed by end of 2005 even for the small PC user banks. Through the payment link SWIFTNET there is a pass through to CHIPS, which the largest CHIPS payment centers have established, tested and are using it since 2005.(http://www.swift.com/index.cfm?item... SWIFTNET is the bridge between Euroclear and CHIPS, however masterusers often use CLS for the high volume payments and the same bridge is supplied by SWIFT. This is however only for the payment messaging settlement part of securitiesclearing, the depositary links are direct between Euroclear and DTC if you are interested in that part of Euroclear.

09-30-06 FoxNews: Moneybroker below...very profound! Know one can accuse you of being a brainiac...that's for sure!

09-30-06 MoneyBroker123: The first thing you must learn is, "CHIPS" is an acronym for: Clearing House for Interbank Payment Systems".

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