Euroclear and HSBC are launching AutoFX, an automated foreign exchange service for Euroclear’s securities settlement clients.
The service embeds FX execution directly into the settlement process, automatically sourcing the currency clients need as European and UK markets prepare to shift to T+1 settlement in October 2027.
The service links Euroclear’s settlement infrastructure with HSBC’s FX pricing, conversion and liquidity capabilities, cutting operational risk and streamlining cross-border settlement activity.
AutoFX will initially cover more than 30 currencies, giving clients a real-time execution dashboard and access to intraday FX fixing points that align with settlement schedules across time zones.
Transparent pricing and liquidity optimisation tools round out the offering, aimed at reducing clients’ excess funding requirements.
“The move to T+1 is one of the most significant changes to Europe’s post-trade landscape in decades. By partnering with HSBC, we are extending our settlement offering with integrated FX services that help clients improve settlement certainty,”
said Sebastien Danloy, chief business officer at Euroclear.
“This first-of-its-kind FX service for Euroclear will help pave the way for enhanced FX solutions across our industry on a global scale,”
said Vincent Bonamy, head of global FX services at HSBC.
Featured image: Edited by Fintech News Switzerland, based on image by mrsiraphol via Magnific
