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ESES

How to become a client

By becoming a client of Euroclear Belgium, Euroclear France or Euroclear Nederland, you benefit from direct access to the highly efficient and secure ESES settlement platform, shared by the Belgian, Dutch and French markets.

Highly compatible with the NYSE-Euronext Single Order Book for stock exchange trades, ESES (Euroclear Settlement of Euronext-zone Securities) covers all domestic securities in these three markets.

When you apply to one ESES central securities depository (CSD), you can easily apply for admission to another by using the common admission process implemented by the three CSDs.

You will then have access to the Belgian, Dutch and French markets through a single CSD relationship via the ESES platform, where harmonised market practices are applied.

Membership

Who is eligible?

The eligibility criteria for financial institutions to become a member of one or more central securities depository and/or a participant to the ESES settlement system are listed in the ESES Terms and Conditions.

Membership criteria

Financial institutions applying for admission to Euroclear Belgium, Euroclear France and/or Euroclear Nederland must meet the following criteria:

  • adequate technological and operational resources
  • excellent reputation in the market
  • active anti-money laundering programme
  • effective risk analysis

Admission process

The institution must send an 'acceptance request file' that includes the administrative documents mentioned in the ESES Operating Manual Part I - General rules (you will need to log in/register to view this document).

Applicants will be assigned a Relationship Manager who will closely follow-up and coordinate the admission process, in cooperation with the ESES Client Administration team who will administer the application.

Once all the application materials are submitted and administered, senior management at the relevant ESES CSD(s) will decide if the application is accepted. The applicant will be notified in writing within three months following receipt of the completed acceptance request file.

If the application is rejected, the reasons will be explained in the notification as well as the procedure to follow in case the applicant wishes to appeal the rejection.

Becoming a client of more than one ESES CSD

Applicants can simultaneously apply for admission to the three ESES CSDs.

If you are already a client of one of the ESES CSDs, you can easily extend your membership to another ESES CSD using the Form of agreement for participation in a Euroclear CSD (you will need to log in/register to view this document).

For further information, please contact your Relationship Manager.

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