Euroclear and Capgemini Belgium sign important partnership agreement for Outsourced Systems Development and Maintenance
It was announced today that Euroclear has signed an important framework agreement with Capgemini Belgium ("Capgemini") to provide outsourced IT-service assistance.
25 May 2004
As part of this framework agreement, Capgemini will contribute to the integration of new applications within Euroclear’s transaction-processing platforms, which settle cross-border trades from clients located in more than 80 countries and domestic trades from clients in Belgium, France, Ireland, the Netherlands and the United Kingdom. Capgemini’s work initially will focus on helping Euroclear to deliver its “Single Settlement Engine”, which will centralise securities-transaction processing from these platforms. It is Euroclear’s first step towards the creation of a “Single Application Platform” for the entire Euroclear group.
Ignace R. Combes, Deputy CEO at Euroclear, stated : “Consolidating the Euroclear group’s different settlement platforms over the next few years increases our IT commitments beyond our delivery capacity. Based on a competitive selection process, we retained Capgemini as one of two partners to extend the reach of our IT human resources. We are particularly impressed with their pragmatic approach and proven expertise in delivering large projects. These qualities are key for us to deliver quickly the infrastructure the market is expecting.”
Guy Devos, COO of Capgemini said : “As discussions with Euroclear progressed, we got the feeling that we had a natural fit with them. We are more than happy to help our clients meet their challenges and try to empathise with them within the spirit of a very close collaboration. Furthermore, Capgemini has a long and solid reputation as a systems integrator, a fact which is reinforced even further by this contract.”
About Capgemini
Capgemini, one of the world’s foremost providers of Consulting, Technology and Outsourcing services, has a unique way of working with its clients, which it calls the Collaborative Business Experience. Through commitment to mutual success and the achievement of tangible value, the company helps businesses implement growth strategies, leverage technology, and thrive through the power of collaboration. Capgemini employs approximately 48,000 people worldwide (55,000 including Transiciel) and reported 2003 global revenues of 5.754 billion euros. More information about Capgemini is available at www.capgemini.com
About Euroclear
Euroclear is the world’s largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions. Market owned and market governed, the Euroclear group comprises Euroclear Bank, based in Brussels, as well as Euroclear France, Euroclear Nederland and CRESTCo, the central securities depositories of France, the Netherlands, and the UK and Ireland, respectively. The total value of securities transactions settled by Euroclear is in excess of EUR 250 trillion per annum, while assets held for clients are valued at more than EUR 12 trillion. Euroclear Bank is rated AA+ by Standard & Poor’s and Fitch. More information about Euroclear is available at www.euroclear.com.
