Products/Trace ESP Toolkit

The Euroclear Group is currently developing the Euroclear Single Platform, which will impact every user of CREST - and EUCLID - in the UK and Ireland.

Trace Financial is a leading supplier of fully-featured CREST interfacing solutions, which reliably support major banks, custodians and brokers - many with very high volume operations (>90,000 transactions a day).

But perhaps you are thinking of building your own interface to ESP? If so, we can still help you. Our expertise and our product set are both entirely focussed on financial messaging, and we have unrivalled knowledge and experience of all the relevant standards and protocols.

Three of our leading financial messaging products comprise the Trace ESP Connection Toolkit:

Over the next few years, Euroclear SA/NV will migrate both their own operations and those of the 4 Central Securities Depositories in the Euroclear group - including CREST in the UK - onto a single central system, the Euroclear Single Platform (ESP). This will bring plenty of challenges for the securities back office.

Firstly, instead of the proprietary message formats long used by most CREST members, ESP will require its participants to communicate using a mixture of enhanced ISO 15022 and completely new ISO 20022 (XML) messages.

Secondly, unlike the 'big bang' migration from Talisman to CREST, the transition from CREST to ESP will take at least a year to complete. During the transition period, every back-office which currently interfaces with CREST will have to communicate with both CREST and ESP for different sets of transactions.