Becoming a client of Euroclear Bank

Becoming a client
of Euroclear Bank
It couldn’t be simpler, just follow this step-by-step guide
Follow these simple steps
to become a Euroclear Bank client
1
Getting in touch
2
Information we need
3
Meeting your needs
4
Complete our registration form(s)
5
Going live
2
2
1 Getting in touch
If you have already been in touch with one of our
Relationship Managers,
please contact them and they will explain the steps you
need to take.
Otherwise, you can either:
• drop us a message via www.euroclear.com/contact
• talk to our Relationship Management team:
Benelux, southern Europe,
Nordics and Baltics
+32 (0)2 326 2952
France
+33 (0)1 55 34 56 34
Germany, Austria, Switzerland,
Luxembourg (German) and
Eastern Europe
+49 (0)69 2980 2880
UK, Ireland, Channel Islands
and Russia
+44 (0)20 7849 0295
Middle East and Africa
+971 55 237 2004
US, Canada and Latin America
+1 646 835 5400
Hong Kong, Northern Asia and
Pacific
+852 3966 5555
Southern Asia
+65 6500 7770
Japan
+81 (0)3 5501 7711
China
+86 10 5854 3266
We will appoint a Relationship Manager who will:
• listen to your needs and ensure an optimal fit
• guide you through the admission process
• remain your contact once you have opened
your account and start using our services,
supported by an Account Manager and our
client service desks
For details of our admission criteria, please see the annex.
How long will it take to become
a client?
Normally less than five business days once we
have received all relevant documentation and your
application has been approved.
The precise timing will depend on the options you
choose and if we have any additional questions in
relation to your application.
2 Information we need
Your Relationship Manager will:
• ask you to provide web-based, electronic or
paper versions of:
Documents
• your certificate of incorporation
• your company registration number and details of
where your company is registered
• other documents as required on a case-by-case
basis. These may include ISAE 3402 reports or
equivalent, copies of your internal code of conduct,
representation and warranties agreement, etc
Information
(unless sufficiently documented in your annual report)
• your annual reports, including audited financial
statements, for the last three years
• your company type
• a list of authorised representatives: this list should
include for each authorised representative,
his/her name and title, a sample of his/her signature
and any limitations to his/her signing authority
• your Board and Management Committee members
• a copy of the comfort letter from the parent
company (only if the company is subject to a comfort
letter from the parent company)
• full address of incorporation and address of operations
(if different)
• your (major) shareholders and percentage held
• give you our anti-money laundering or ethical
questionnaire for you to complete
3
3 Meeting your needs
Your Relationship Manager will discuss your different options for:
Services
You can choose specific services across:
• transaction settlement
• asset servicing
• collateral management
You can hold and settle a wide range of instruments:
• domestic and international bonds
•equities
• investment funds
Communication
channels
(more details below)
You can choose and combine channels to fit your needs:
• screen-based access
• computer-to-computer access
Overview of Euroclear Bank
communication channels
For full details of our different communication options, please see the annex.
EasyWay1
Screen based
EUCLID PC1
EUCLID Server1
Triweb1
Service specific options
FundSettle browser1
EUCLID Server1
EUCLID file transfer1
Computer-to-computer
SWIFT messaging
Service specific option
FundSettle file transfer1
1
4
our proprietary communication software
4 Complete our registration form(s)
Your Relationship Manager will provide you with relevant account opening/registration
forms to complete, depending on the service options you choose.
5 Going live
Once the necessary verification has been completed and your application has been approved,
we will:
• open your first account
• inform you of the date you can start using your account
• provide you with details of how to access the Euroclear System
Optional
additional services
You have
our full support
Your Relationship Manager will also let you
know about:
You can access in your own language and
time zone a range of client service desks
ready to help you with any service related
query. A designated Account Manager will
also monitor your account activity and will be
available to help if you have any questions.
Testing
Testing will allow your teams to
familiarise themselves with our
systems and processes.
We recommend that you test
instructions and reporting in our
testing environment before using
our live systems. Our dedicated
testing and on-boarding team will
help you.
Training We offer several training options
to help you get the most out of
our range of products and services.
See our training catalogue:
www.euroclear.com/training.
55
Annex
Admission criteria
Below is a summary of the criteria with which your firm must comply on an ongoing basis in order
to participate in the Euroclear System.
Criteria
lnclude…
Financial resources
Adequate financial resources to run your business on a going concern basis
and meet your obligations towards us, the Euroclear System and its Participants
Operational and
technological capacity
Adequate operational and technological capacity to ensure business continuity
and avoid material adverse impact on the integrity of the Euroclear System
Legal capacity
Legal capacity and ability to accept and comply with the rules of the Euroclear
System
Internal controls and
risk management
Sound internal controls and risk management such as to preserve the integrity
and reputation of the Euroclear System
Ethical standards
Ethical standards that are such as to protect the integrity and reputation of
the Euroclear System
Key legal documents
You can find more detailed information about our admission criteria in The Operating Procedures of
the Euroclear System. This document, together with the Terms and Conditions governing use of Euroclear,
will define your relationship as a client.
Both these documents are available on our ‘Legal basics’ web page: my.euroclear.com/eblegal.
Contingency
To ensure the continuity of your communications with Euroclear Bank, we advise you to:
•use a second communications channel as a back-up link
•duplicate an existing communications channel
6
Your connectivity options explained
Screen based
EasyWay
EasyWay is a web-based tool that simplifies the way you connect to and use
our services. EasyWay offers you a real-time view of your Euroclear activity.
EUCLID PC
for low- to medium-volume users to access to Euroclear Bank core services
EUCLID Server
for high-volume users to operate their accounts; synchronised with our real-time process
Service specific options
FundSettle browser
for access to FundSettle services
Triweb
for information on triparty activity
Computer-to- EUCLID Server
computer
gives high-volume users a continuous exchange of information synched with Euroclear
Bank’s real-time process
EUCLID file transfer
batch-oriented file exchange over a secure IP network
SWIFT messaging
real-time message based solution using ISO 15022 or ISO 20022 compliant formats
Service specific option
FundSettle file transfer
batch-oriented file exchange over a secure IP network
Connectivity channels per service
Service
Connectivity channels
Screen based
Asset
Money
Collateral
Settlement servicing transfer management FundSettle
EasyWay
•
•
•
EUCLID PC
•
•
•
•
EUCLID Server
•
•
•
•
1
Service specific options Triweb
•2
FundSettle browser
Computer-to- EUCLID Server
computer
EUCLID file transfer
SWIFT messaging
•
•
•
•
•
•
•
•
3
•
•
•
•
Service specific options FundSettle file transfer
•
•
1
EUCLID Server can be used to retrieve money transfer reports but not to send instructions.
2
Triweb is a reporting tool only and cannot be used to send instructions.
3
EUCLID file transfer can be used to retrieve money transfer reports but not to send instructions.
Network compatibility
Network compatibility
Connectivity channels
Screen based
Public internet
SWIFT FIN/
SWIFTNet
BT Radianz
EasyWay
•
•
•
EUCLID PC
•
•
•
EUCLID Server
•5
•
•
Service specific options
Triweb
•
FundSettle browser
•
Computer-to- EUCLID Server
computer
EUCLID file transfer
•5
SWIFT messaging
Service specific options
5
•
•
•
•
•
•
FundSettle file transfer
•
The public internet is only recommended as a backup connectivity option.
7
This document is for information only and does not
form part of any contractual arrangements
between clients and Euroclear Bank.
© 2016 Euroclear Bank SA/NV, 1 Boulevard du Roi Albert II, 1210 Brussels, Belgium – Tel: +32 (0)2 326 1211 –
RPM Brussels number 0429 875 591. Euroclear is the marketing name for the Euroclear System, Euroclear plc, Euroclear
SA/NV and their affiliates. All rights reserved. The information and materials contained in this document are protected
by intellectual property or other proprietary rights. All information contained herein is provided for information purposes
only and does not constitute any recommendation, offer or invitation to engage in any investment, financial or other activity.
We exclude to the fullest extent permitted by law all conditions, guarantees, warranties and/or representations of any kind
with regard to your use of any information contained in this document. You may not use, publish, transmit, or otherwise
reproduce this document or any information contained herein in whole or in part unless we have given our prior written
consent. Your use of any products or services described herein shall be subject to our acceptance in accordance with the
eligibility criteria determined by us.
www.euroclear.com
Euroclear is a carbon neutral company PAS2060 certified • MA2303 • 03-2016