Process efficiency

• Settling your transactions
  All your settlement needs are covered by our efficient, flexible services
  Smooth settlement
  We work with you - for you - so your transactions settle on the intended settlement date.

  • You simply need to submit an instruction telling us when, which transaction and with which entity you have agreed a trade for us to settle
  • Your counterparty to the trade also submits an instruction

  We match the two instructions and make sure the seller has the securities and, if against payment, the buyer has the available funds for the settlement process to be completed
  Efficient and low cost
  Minimize your risk, maximize settlement efficiency and lower your post-trade costs with our highly reliable services.
  Delivery versus payment (DVP) settlement to:
  Ensure the simultaneous transfer of cash to the seller and securities to the buyer

  • Eliminate the risk of paying a counterparty and not receiving the asset being bought

  Flexible solutions to accommodate your needs:

  • The possibility to settle on a free of payment (FOP) basis
  • Settlement of non-matched instructions (provided the possibility exists in the specific market)

  You take advantage of:

  • Automated, straight-through processing and standardized communications to maximize settlement efficiency
  • Settlement-integrated securities lending and borrowing
  • Settlement in central bank money and/or commercial bank money
  • Strong asset protection

  Local and global support
  We provide you with a single access point to benefit from:

  • Domestic settlement services in each of seven European countries
  • Cross-border settlement services covering domestic securities from 45 markets

  Pre-settlement services

  • Upstream services to help you fully automate the entire transaction flow, from trade execution through to settlement.
  • Trade capture and matching for a wide range of instruments (e.g. bonds, equities, derivatives)
  • Trade netting, significantly reducing the number of settlement instructions that need to be created Transaction reporting to regulatory authorities
  • Order routing for investment fund transactions

  Well connected
  ‘‘BULL’’’s strong relationships with other market infrastructures help you to centralize your settlement needs:

  • Settlement of trades conducted on major stock exchanges and multi-lateral trading facilities (MTFs)
  • Settlement of trades cleared through central counterparties (CCPs)Links with CSDs in 45 markets
  • Settlement of trades on the European Central Bank’s TARGET2-