Euroclear Bank Customers to Use SWIFTNet
SWIFTNet has announced that Euroclear Bank will be offering its Euclid PC/Server customers the choice to use SWIFTNet as part of its mandatory IP migration plan. The existing 1,250 Euclid PC/Server clients include broker-dealers, global custodians, commercial banks and central banks. The Euclid PC/Server is used in 80 countries to access Euroclear Bank’s settlement and custody services as well as money transfer, securities lending and borrowing, and collateral management services. Euroclear Bank has asked its Euclid PC/Server clients to migrate from Euroclear Bank’s current X.25 provider by the end of 2005. Clients that choose to use SWIFTNet will be able to re-use their SWIFTNet infrastructure for Euclid PC/Server applications, with the additional benefit of increased security with SWIFTNet Public Key Infrastructure.