The European Investment Bank (EIB), Euroclear, Banco Santander and EY have
completed a Proof of Concept for the issuance and settlement of European Commercial Paper (ECP).
The aim is to cut down on the back and forth in communications and reconciliations by having a shared data source, and there will be Delivery versus Payment (DvP) settlement. Additional benefits included transparency, traceability and faster issuance.
“On the occasion of the first anniversary of the EIB Blockchain Challenge, we would like to thank all actors for their participation in the proof of value exercise for this innovative initiative,” said Peggy Nylund Green, Director of Planning and Settlements of Operations, EIB. She added: “EIB launched it, in our supportive role in the development of the EU internal market and will be pleased to see further innovations in the ECP market.”
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