European Pre-Issuance Messaging Service (EPIM)

06.07.2017

EPIM - an easy and efficient ISIN request and allocation solution

Clearstream offers its customers European Pre-Issuance Messaging (EPIM), a secure and automated ISIN request and allocation service that facilitates and improves the issuance process for international money market instruments issued off programmes.

EPIM was launched on 1 May 2002 in collaboration with DTCC and Euroclear Bank and has rapidly established itself as the industry’s central messaging hub, connecting dealers, issuing and paying agents (IPAs) and the relevant numbering agencies (Clearstream Banking and Euroclear Bank).

The use of EPIM is mandatory for euro commercial papers (ECP) and euro certificates of deposit (ECD). London certificates of deposit and euro medium-term notes (EMTN) are also eligible for the service when issued under a programme. EPIM covers the major legal issuance forms (that is, new global notes (NGN), classic global notes (CGN) and CGN in registered form under the New Safekeeping Structure) both as temporary and permanent notes. EPIM is a flexible tool allowing dealers and IPAs to mark up/down principal amounts as well as to update or cancel previous ISIN requests.

EPIM allows a real-time exchange of standardised and secured issuance information with efficient and effective issuance and ISIN/common code allocation functionalities.

Your benefits

EPIM allows ISINs to be assigned in less than five minutes.

Other important benefits:

  • STP based on exchange of standardised messages;
  • Formatted fields for mandatory information;
  • Clear validation rules and error notifications;
  • Optimum routing between dealers, IPAs and ICSDs;
  • Most direct access to XS ISIN and common code generator systems;
  • Secure infrastructure with multiple backup locations;
  • Reliance on stable commonly used connectivity technology.

How to connect to EPIM

Connecting to EPIM through your own interface

Dealers and IPAs seeking to build a tailormade EPIM access will find the relevant development information and specifications in the Getting Started Pack.

  • Complete and submit CBL’s EPIM subscription form to the contact persons below.
  • CBL approves the form and sends it to DTCC.
  • Complete and submit the EPIM Connectivity form received from DTCC.
  • Establish connectivity to EPIM with the support of DTCC.
  • Request a two-week testing window from CBL.
  • Move to production upon successful completion of testing.

Connecting to EPIM through the EPIM workstation

The EPIM workstation is a web-based interface providing EPIM access to registered dealers and IPAs.

  • Complete and submit CBL’s EPIM subscription form to the contact persons below (making sure to check the EPIM workstation box).
  • CBL approves the form and sends it to DTCC.
  • Complete and submit the Access Coordinator User form received from DTCC.
  • DTCC creates the access and provides the user ID and the password.
  • No testing is required.