Team up with us
IBERCLEAR
THE SPANISH CSD
Building on our expertise to bring you
the new edifice of post trade in Europe
WHAT IS
IBERCLEAR
Offering a
one-stop-shop
to register and settle
all Spanish securities
Gateway to other
securities across Europe
Iberclear is a European supplier of
post-trading infrastructure services.
The BME subsidiary ensures that cash
and securities are promptly and effectively
delivered between settling parties. As the
Spanish Central Securities Depositary, Iberclear
also provides the post-trade infrastructure for the
Spanish securities industry offering access to a
growing number of international markets.
SECURITIES SETTLEMENT AND REGISTRATION SYSTEM
ARCO is the IBERCLEAR new technical platform.
It is developed as a result of the Reform of the
Spanish post-trading system, which is being released
to increase efficiency and flexibility, maintain
supervision and control, and find harmonization
towards T2S and the challenges set forth beyond.
EFFICIENCY
• One platform for both Equities and Fixed Income
• Registry and Settlement System based on balances
FLEXIBILITY
IBERCLEAR Central Registry
ACCOUNT TYPES
• Proprietary a/c
• General Third-party a/c
• Individual Third-party a/c
• Special individual financial intermediary a/c
Three types of matching: mandatory,
additional and optional
SUPERVISION
AND CONTROL
• New supervision process
for second-level accounts
HARMONIZATION
• Designs and procedures
compatible with T2S:
• Hold and release/
Real time settlement/
Partial settlement/
Recycling
ARCO Implementation Calendar
2012
2013
2014
2015
2016
2017
Equity (SCLV RR)
Equity
Equity + Fixed Income
Fixed Income (CADE)
t2s
TARGET2 (cash)
TARGET2-SECURITIES
T+2
T+2
• Reform (Equity): 9th October 2015
• T+2 implementation: 6th October 2014 (Fixed Income), November 2015 (Equity)
• Migration to T2S (including Reform for Fixed Income): 6th February 2015
For further questions, please send us an email to: [email protected]
Further information is also available at: www.iberclear.es