The exercise between Credit Suisse and Nomura's Instinet demonstrated the ability for firms to execute and settle US equities trades conducted throughout the day.
Move will enable the CSD to provide central bank money settlement in euros, pounds sterling and US dollar.
The landmark figure is part of an industry effort to significantly improve securities settlement efficiency rates ahead of the Settle Discipline Regime (SDR).
Combined with FundSettle, Euroclear said the acquisition of the fast-growing platform will create a new funds market utility and a leading global provider of fund services.
Many investment banks have had to scramble to update their back-office operations in order to prevent a potential spike of failed trades.
A new white paper highlights the benefits of moving to a T+1 settlement cycle and details plans to achieve this in two years.
The comments were made before the US House of Representatives’ Committee of Financial Services, which discussed the increased volatility from retail traders in January.
Clearstream’s Eurobond’s product group also includes its network management and market partnership activities.
Following similar initiatives in China and Japan, Euroclear teams up with the Singapore Exchange to broaden the market’s investor base.
Pressures from COVID-19, regulations and changing geopolitical market trends, as well as low volumes, have forced Eurex to prioritise other activities.