Definition of 'Euroclear'
One of two principal clearing houses for securities traded in the Euromarket. Euroclear specializes in verifying information supplied by two brokers in a securities transaction and the settlement of securities. Euroclear is market owned and governed, and has previously acquired London Crest, Necigef Netherlands, Sicovam Paris and CIK Brussels.
Investopedia explains 'Euroclear'
Euroclear is one the oldest settlement systems and was originally subsidized by Morgan Guaranty. Its computerized settlement and deposit system helps ensure the safe delivery and payment of Eurobonds.
The other principal clearing house is Clearstream, formerly the Centrale de Livraison de Valeurs Mobilières (CEDEL).