Market Trends of Europe Clearing Houses And Settlements Industry
SEPA Schemes are Driving the Market
The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for the simplification of bank transfers denominated in euros. SEPA covers the whole of the European Union. Other countries and territories which are part of the geographical scope of the SEPA schemes are Andorra, Iceland, Norway, Switzerland, Liechtenstein, Monaco, San Marino, United Kingdom, Vatican City State, Mayotte, Saint-Pierre-et Miquelon, Guernsey, Jersey, and Isle of Man.
SEPA settlement and clearing system are managed by the European Commission and the European Central Bank (ECB) collaboratively through the European Payments Council. The European Central Bank chaired the council, which, together with representatives from government and consumer groups, works to govern the board and steer its agenda.
Germany is the Major Country in European Settlement and Clearing
Germany plays a major role in clearing houses and settlements in Europe. Frankfurt is home to several key institutions, including Clearstream Banking AG and Eurex Clearing AG, which are prominent in the European clearing and settlement landscape. These institutions provide critical services for the clearing and settlement of securities, derivatives, and other financial instruments traded in Europe and globally. Germany's strong financial sector and robust infrastructure contribute to its significance in this area.
