Delivering a new CSD for Ireland

For more than 20 years, Euroclear has provided integrated multi-currency settlement services for both Irish and UK corporate securities. Today, these services are provided by Euroclear UK & Ireland, a UK-based company with no physical presence in Ireland.

We recognise that the UK’s decision to leave the European Union (“Brexit”) may make the current arrangements between Euroclear UK & Ireland and the Irish corporate securities market untenable.

As an international group of CSDs with a global business – and a group Head Office based within the EU, in Brussels – we are well-placed to manage the effects of Brexit and seek to ensure continuity of service in respect of Irish corporate securities.

Our White Paper, Euroclear Ireland – Delivering continuity of Irish securities settlement post Brexit (LINK TO PAPER):

  • sets out our key proposal for dealing with this challenge; and
  • looks briefly at possible consequences of Brexit upon some of the services currently operated by Euroclear UK & Ireland.

Please note that this proposal is subject to a number of dependencies, including matters outside Euroclear’s control, such as relevant regulatory approvals.
We aim to inform you from time to time via this page and/or our regular communications channels regarding developments that we are making publicly available related to the establishment of Euroclear Ireland.
You are also invited to register below for our webinar on XX MONTH 2018 to learn more about the proposal detailed in White Paper.

Download our whitepaper

Register for our webinar

In this webinar, we will present the main themes outlined in our recent White Paper, ‘Euroclear Ireland – Delivering continuity of Irish securities settlement post-Brexit’.

Speakers

  • Paul Symons, Head of Government Relations, Euroclear
  • Ian Dowglass, Head of Innovation and Business Transformation, Euroclear UK & Ireland
  • Christopher Twemlow, Head of Legal Affairs, UK, Euroclear
     

Important information

The subject matter of this webpage, whitepaper, webinar and any other Brexit-related information contained on euroclear.com, and in particular, the timely establishment of Euroclear Ireland, cannot be guaranteed and is subject to a number of internal and external dependencies, some of which are beyond Euroclear’s control. The content may contain proposals as to potential future action or results and may include forward looking statements – these contain inherent risks and uncertainties. Actual outcomes may differ materially from those expressed or implied or may not be achieved at all. No warranty or representation is made in relation to the content.
 

Download the whitepaper

Join the DD Month webinar

Background

On 29 March 2017, following a referendum in 2016, the UK Government gave notice to leave the EU, using the procedure set out in Article 50 of the Treaty on European Union. This has triggered the need for the UK to agree withdrawal terms (commonly called "the Leaving Agreement") with the EU and the terms of a long-term future relationship as well. 

Under the terms of Article 50, the UK will leave the EU from the date of entry into force of the Leaving Agreement or, failing that, two years after the notification, unless the European Council, in agreement with the UK, unanimously decides to extend this period. Therefore, we expect the UK to leave the EU in March 2019, unless other agreements or transitional arrangements are put in place.   

Euroclear, like others with business in the UK, is planning for the UK to leave the EU in March 2019. The final shape of the UK's relationship with the EU is currently unknown.