KAS BANK clearing specialist on Euronext Paris
KAS BANK is the first General Clearing Member of Euronext that is able to provide clients of the three underlying Euronext exchanges with its services from one portal instead of from three different connections. KAS BANK commenced its clearing and settlement services on Euronext Paris in November, after successfully completing a pilot phase with securities broker Eduard de Graaff. Euronext members can now trade on all three Euronext exchanges and have their positions cleared and settled using KAS BANK as their General Clearing Member. As from February 2002, KAS BANK can provide all its clients in Europe and outside Europe with this service. In the coming months, KAS BANK will conduct several pilots in order to gain further experience in the French infrastructure. Due to its highly automated services, KAS BANK can provide this service without any further increase in costs.KAS BANK now offers its clients one clearing and settlement protocol for the Euronext exchanges in Amsterdam, Brussels and Paris. In connection with this, KAS BANK introduces its new, automated collateral system; clients can now reduce costs by using their collateral surplus for other liabilities. Aside from these expansions, KAS BANK also provides one uniform reporting structure for the three Euronext markets. Expectations are that clients will have a better insight into the increased transaction volumes and turnover around the first quarter of 2002.
For Global Custodian article on KAS BANK (previously KAS Associate) see “KAS’s Custody Niche Across the North Sea”, IT 2001.