Euroclear ready to expand in Asia<\/p>\n
LONDON (Reuter): Euroclear said it is to expand its coverage
\nof the Asia-Pacific debt markets with the acceptance of
\nIndonesian, Malaysian and Thai domestic debt securities.<\/p>\n
The additions bring to eight the number of markets covered by
\nEuroclear services in Asia, a statement said.<\/p>\n
Thai debt securities (corporate, government and state agency
\ndebt) are eligible in the system from Sept. 9. Indonesian
\n(corporate and state agency debt) and Malaysian (corporate,
\ngovernment, Bank Negara and Cagamas debt) securities will become
\neligible on Sept. 30.<\/p>\n
Euroclear said its services will include clearance, custody
\nand settlement.<\/p>\n
Participants will be able to settle their transactions against
\npayment or free of payment with other participants and with
\ncounterparties from the local market.<\/p>\n
Certain debt securities will also be eligible across the
\nEuroclear bridge with Cedel.<\/p>\n
The depositary and cash correspondent for Indonesia and
\nMalaysia will be Deutsche Bank, with Bangkok Bank for Thailand.<\/p>\n
Euroclear said participants would benefit from multi-currency
\nsettlement against any of the 35 currencies accepted in the
\nEuroclear system, competitive fees, real-time matching results
\nand a full range of custody and tax services.<\/p>\n
Euroclear said the potential activity in the Asian markets was
\n\"impressive\".<\/p>\n
The World Bank has predicted that the Thai bond market will be
\nthe fastest growing in Asia through the middle of the next
\ndecade, expanding from 10 percent of gross national product at
\nthe end of 1994 to 35 percent by the year 2004.<\/p>\n
Euroclear said it currently serves more than 2,500 participant
\norganizations in 80 countries.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/euroclear-ready-to-expand-in-asia-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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