Euroclear Taps Accenture for Single Settlement Engine Help

Euroclear has selected Accenture to provide application development sourcing services as part of the Brussels-based depository’s single settlement engine project. Under the plan, Accenture will help develop a platform that will host Euroclear’s Single Settlement Engine. The project is due for completion – with help from a yet-to-be-determined second strategic sourcing partner – in 2006. The initial deadline of next year was pushed back last December. The new platform will process cross-border trades from institutions in more than 80 countries and domestic trades from firms in Belgium, France, Ireland, the Netherlands and the U.K.