“Diamis to provide the EBA Clearing BAS2 settlement system”
Paris, 7 June 2005
The EBA Clearing Company is renewing its administration system for EURO1 settlement procedures, called BAS (Business Administration System), and has chosen Diamis to provide an integrated BAS2 platform that is more powerful and ready to evolve towards Target 2. BAS2 will be based on the Cristal solution, a liquidity management and payments processing platform already used by large French and European banks. Cristal will integrate new functions for Flexible Settlement Capability and guarantee the use of BAS2 in the context of Target 2. The opening of BAS2 is planned for the second half of 2005.
The 70 largest European banks already have access to the EURO1 system. The BAS2 system will enable the pre-settlement of STEP2 balances in EURO1 for pre-fund participants and the end-of-day final settlement of EURO1 balances in Target. BAS2 will also enable intra-day cash transfers between EURO1 and Target, and soon Target 2.
Diamis' technology chosen by EBA is based upon Cristal, a proven solution to access to the EURO1, STEP1, STEP2 and Target systems. Diamis already guarantees that the system will be compatible with Target 2. It is for this reason that Cristal is used by a large number of banks in France and Europe and by special institutions like Banque de France and Euroclear. Cristal ensures for Euroclear France the management of intra-day cash transfers between the Securities Settlement System, RGV, and Target.
Gilbert Lichter, CEO of EBA Clearing, said : “We have entrusted the implementation of BAS2 to Diamis, who already provides banks with solutions for connection to the EURO1, STEP1 and STEP2 systems. Banks will appreciate the advantages of this platform, which effectively supports all the new functions required to develop EBA's pan-European settlement systems.”
“Diamis is proud to have been chosen by EBA, “said Jean Pic Berry, General Manager of Diamis. “We are sure that the participants in Europe will be satisfied with the services provided by BAS2, which will allow them to get a head start in the developments required for the implementation of the Single Euro Payments Area.”
Diamis, joint subsidiary of AtosEuronext (Atos Origin Group) and Steria, offers a wide range of solutions and services in consulting, systems design, project implementation and integration, managed services and maintenance. Specializing in interbanking, we have acquired unique knowledge and expertise in building and running sound and modern payment infrastructures for both central settlement systems and commercial banks. http://www.diamis.com
Cristal is a solution for managing interbank execution of wholesale and cross-border retail payments, addressing Target 2, SEPA and worldwide intraday liquidity management.
About EBA CLEARING
EBA CLEARING is the leading private provider of euro clearing services. The company was established in May 1998 by 52 banks to own and operate EURO1 and, thereafter, STEP1. Since April 2003, EBA CLEARING has been managing and operating STEP2, the first pan-European ACH-service for mass payments in euro. http://www.abe.org
About EURO1, STEP1 and STEP2
EURO1 and STEP1 process over 175,000 payments on a daily basis for a total value in excess of EUR 170 billion. Today, the large-value payment system EURO1 comprises 70 direct bank participants and 48 indirect participants while STEP1, a system for low-value single payments, includes 119 participants. STEP2 is a bulk payment system processing EC Regulation-compliant transfers; it is tailored to the banks' requirements for clearing euro payments in the Single Euro Payments Area. The system currently counts 86 direct participants and more than 1,500 indirect participants. STEP2 processes over 150,000 payments per day.
For Diamis: Delphine Delsaux
Tel: +33 (0)1 73 03 03 46
Mob: +33 (0)6 10 16 59 05
For EBA CLEARING: Daniel Szmukler
Head of Communications
Tel: +33 (0)1 53 67 07 12