This is an old revision of this page, as edited by Викидим (talk | contribs) at 22:52, 25 December 2024 (Added tags to the page using Page Curation (notability)). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 22:52, 25 December 2024 by Викидим (talk | contribs) (Added tags to the page using Page Curation (notability))(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) | The topic of this article may not meet Misplaced Pages's notability guidelines for companies and organizations. Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be merged, redirected, or deleted. Find sources: "Swiss Euro Clearing Bank" – news · newspapers · books · scholar · JSTOR (December 2024) (Learn how and when to remove this message) |
 | It has been suggested that this article be merged into SIX Group. (Discuss) Proposed since December 2024. |
The Swiss Euro Clearing Bank or SECB is a special-purpose bank based in Frankfurt, Germany, whose role is to facilitate transactions in euros by banks in Switzerland and Liechtenstein. It is the centerpiece of the euroSIC system, which is the euro counterpart to the Swiss Interbank Clearing (SIC) system for transactions in Swiss francs.
Overview
SECB was established in 1998 and started operations on 1 January 1999, the same day as the euro was introduced as single currency of 11 member states of the EU. It settles transactions in euros that are processed on the SIC system, thanks to its access to the TARGET Services platform of the Eurosystem.
Use of SECB is not obligatory. In the mid-2000s, UBS preferred to process transactions in euro via its own direct access to the German real-time gross settlement system, which was subsequentlyu replaced by TARGET2.
Originally owned by several Swiss financial sector participants, SECB has been a fully-owned by SIX Group since 2018.
See also
References
- ^ "SECB Swiss Euro Clearing Bank GmbH". secb.de. Retrieved 25 December 2024.
- ^ Morten L. Bech, Christine Preisig, & Kimmo Soramäki (September 2008), "Global Trends in Large-Value Payments" (PDF), FRBNY Economic Policy Review, Federal Reserve Bank of New York
{{citation}}: CS1 maint: multiple names: authors list (link) - "SIX Increases Its Stake in SECB GmbH to 100%". SIX Group. 3 September 2018.
  | This bank and insurance-related article is a stub. You can help Misplaced Pages by expanding it. |