Link infrastructure - Bridge


Institutions and organisations

Central Bank

Banque centrale du Luxembourg (BCL) is the Luxembourg central bank.

The main task of the BCL is to assist the European Central Bank (ECB) in the accomplishment of its objectives.

Central Securities Depositories

An international CSD is a central securities depository that settles trades in international securities such as Eurobonds, either via the interoperable link, the Bridge, or through links to local CSDs.

Clearstream Banking S.A. (CBL)

Euroclear Bank

Regulators Institutions

Regulatory structure

Banque centrale du Luxembourg (BCL)

The central bank supervises the financial systems to ensure their stability.

Commission de Surveillance du Secteur Financier (CSSF)

The main tasks of the CSSF are as follows:

  • Prudential supervision of credit institutions, other financial sector professionals (including CBL), UCITs, pension funds, payment systems and their operators;
  • Supervision of financial markets;
  • Enforcement of laws and regulation pertaining to the financial sector.

The NBB (National Bank of Belgium)

NBB supervises Euroclear Bank by verifying compliance with international regulatory standards. 

Settlement system

International securities may be primarily issued in and deposited either with the ICSDs (Clearstream Banking and Euroclear Bank) or with national CSDs.