It is Euroclear Sweden’s straight-through processing platform called Plug & Clear that is now being expanded to the neighbour nation’s currency.
“Euroclear Sweden is seeing increased customer demand to issue securities in several currencies to reach investors throughout the Nordic markets,” says product manager Sofia Hovelius in a news statement.
A dominant position
According to Euroclear, the Plug & Clear service enables straight-through processing for affiliation, issuance and de-registration of standardised exchange traded products – that is warrants and standardised unit-traded certificates. The platform is said to account for the processing of over 95 percent of the issued volumes in the Swedish market.