Migrating SPVs from CREST
Ireland is the leading European jurisdiction for Special Purpose Vehicles or SPVs.
Representing 24% of the European industry with some 1400 issuances, this dominance has left the country being seen as a world leader when it comes to determining and defining industry best practice.
Euroclear already connects six European CSDs, making them the largest group of CSDs and offering the highest levels of safety combined with a truly international reach. Furthermore, every six days, Euroclear settles transactions with a value equivalent to the GDP of the whole EU. Euroclear settlement also allows the best access to liquidity through ensuring the optimal use of issuer assets.
Regardless of the migration from CREST to Euroclear, Ireland will continue to offer International Issuers of securities a robust, common Law framework for the issuance of Debt, Equity and other asset class securities. Avenir will be in position to assist issuers in both setting up the Irish Register as well as to dematerialise their new issuances into the Euroclear framework.