Clearstream, a supplier of post-trading services, has successfully launched its Euro Night-Time Funding Link service to Target2.
This service will allow customers to access their liquidity held in Target2 Real Time Gross Settlement (RTGS) accounts and make it available for the settlement of transactions in euro during Clearstream’s night-time processing.
This service operates during the night, when Target2 is closed for payments and provides a flexible means to bring in collateral dedicated for Euro settlement. The collateral within Clearstream can be used for credit required in other currencies, or can still be used for additional credit in Euro. ENTFL has been designed to provide operational efficiencies for customers such as a clean starting position before Target2 opening, easy and full control over the liquidity dedicated to the service, reduction or replacement of the need for customer to pre-advise Clearstream of their Euro payments, ahead of Clearstream’s Night-time processing.