BME, through IBERCLEAR, the Spanish Central Securities Depository, has included on June 26, 2023, the Belgian market to its Cross-Border Services (CBS). BME clients will thus have access to this market through the connection with the Belgian central securities depository, National Bank of Belgium operator of the securities settlement system.
Belgium joins the markets of Germany, France, Italy, the Netherlands, Austria, Portugal and Switzerland, with which Iberclear currently maintains a connection. Access to this market is of particular relevance given that the Belgian CSD has been designated by the European Commission for the registration and the issuance of NextGenerationEU (NGEU) assets on the T2S platform.
It will be the issuer CSD responsible for maintaining the book entry register of these securities from the second half of 2023.
IBERCLEAR will accept the NGEU securities in addition to the other eligible securities of this CSD. The "primary dealers" authorized by the European Commission may settle their transactions related to the primary market using their IBERCLEAR accounts.
Additionally, IBERCLEAR has requested the Bank of Spain to grant eligibility to the link, so that the securities are eligible assets, accepted as collateral by the Eurosytem to provide credit.