Euroclear Bank is launching a new browser-based application called EasyWay for clients to monitor their activities across the bank. EasyWay initially will cover corporate actions upon its launch next month.
Eventually EasyWay will be expanded to include settlement, collateral management and other custody services. Euroclear says it will give clients an integrated, holistic view of their activities within the bank, offering greater risk controls and asset optimization opportunities.
When it goes live for corporate actions in November, clients will be able to monitor the status of their entitlements in real time, including necessary actions on security holdings. It also contains a warning system that highlights imminent corporate actions deadlines.
The system was developed in cooperation with a number of clients, including Deutsche Bank, Goldman Sachs and Northern Trust, according to Euroclear. The clients have been involved in the development of the application since 2011 and are currently pilot testing it.
Jo Van de Velde, head of Product Management at Euroclear, says the bank manages more than 120,000 elective corporate actions for clients each day. This new-generation portal marks a big step forward in our post-trade made easy mission, and specifically to further mitigate and control the risks associated with corporate action processing, Van de Velde says. With EasyWay, clients will benefit from a one-stop-shop to access our services, with real-time monitoring and instructing features. Its timeliness, ease of use and quality of information will be unrivalled in the post-trade sector in that clients can connect from anywhere using computers and mobile devices.
EasyWay is available via Web browser on desktops, iPads and other tablets, so no software installation is required. Clients will be charged for the service on a volume-discount pricing basis, whereby higher volumes benefit from economies of scale.
(CG)