The settlement was carried out between the CSDs of Kuwait and Morocco using cash coins on the TCS BaNCS Network.
Euroclear processed a record number of settled transactions over the year, equivalent to €791 trillion by value, an increase of 8%.
Administrators from Quantuma to oversee restructuring of SETL, separating investments from software development business.
The consolidation of the US assets, representing $39 billion, with Citi as its single provider successfully went live in December last year.
Several complications related to corporate actions, differences in tax regimes and securities law between EU member states, have built barriers to entry for T2S.
Global Custodian understands the promotion marks a new strategic focus for Euroclear to drive sales with financial institutions in the Americas region.
Clearstream recently underwent an organisational restructure and combined its sales, relationship management and client services activities into one joint division.
New cross-border custody and settlement service to act as a single gateway to TARGET2-Securities (T2S) and international markets.
SWIFT explained the financial gain for a hacker targeting securities market infrastructures are high, while custodians and brokers are also at risk.
Europe’s data protection laws and the incoming CSD Regulation could prevent implementation of the technology in the post-trade area.