EuroclearClearstream
Euroclear and Clearstream are the two largest post-trade financial services providers in the world, operating major securities settlement and custody systems. They are central securities depositories (CSDs) that play a crucial role in the global financial markets by facilitating the clearing and settlement of securities transactions. Clearing involves confirming the details of a transaction, while settlement is the actual transfer of ownership of the securities and the payment for them.
Euroclear is a Belgian-based entity that operates a large network of settlement systems for a wide range
Clearstream, headquartered in Luxembourg, is a subsidiary of Deutsche Börse Group. It provides similar post-trade services,