NETHERLANDS/BELGIUM/FRANCE – Clearnet, the European clearing house, has announced that the implementation of its new clearing platform for cash, C21, will be completed on November 16.

After analysis carried out in conjunction with the group’s clearing members in Brussels and its software providers, Clearnet says it plumped for the November date in order to give its members and related providers time to prepare for the new platform.

The migration to C21 of the Brussels participants is the first step of the move to a single clearing platform for all Clearnet members on their cash transactions.

Clearnet is the first European clearing house to implement the full merger of three existing central counterparties (CCP). The merger involves a legal step implemented early this year as well as a technical roll-out of the C21 clearing system to all members in Amsterdam and Brussels.

C21 allows the processing of transactions from all markets in real time using a single tool and enables multilateral netting of positions.
It is also used on US derivative markets and on derivative and cash markets in Paris.

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