Euroclear to offer US dollar settlement in central bank money
New settlement should reduce credit and operational risk on settlement banks
One of the world’s largest clearing houses will be able to settle transactions in US dollars in central bank money after connecting to the Federal Reserve’s National Settlement Service.
Euroclear, one of the two biggest clearing houses for securities traded in the euro market, will now be able to offer all three of its settlement currencies – US dollar, sterling and euros – in central bank money through its UK and Ireland infrastructure (EUI).
“This new central bank US dollar settlement model
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