Progress on AMI-SeCo Single Collateral Management Rulebook for Europe and Eurosystem Collateral Management System – April 2023 | Update


Note: This Announcement, originally published on 27 April 2023, has been updated to provide a link to the web page for registration for the client information sessions.

As part of our regular communications, and further to Announcement C22030, Clearstream Banking1 would like to update clients concerning the impacts regarding the implementation of the AMI-SeCo Single Collateral Management Rulebook for Europe (SCoRE) Standards and Eurosystem Collateral Management System (ECMS).

Impact of the implementation timeline adjustment for SCoRE and ECMS on clients

The Governing Council of the European Central Bank (ECB) and the Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) had decided to postpone the implementation of ECMS and SCoRE to 8 April 2024.

These changes resulted in a review and re-planning of the Clearstream Banking delivery timeline, which is expected to be completed end of Q2 2023. Clearstream Banking will provide more details of impacts to clients at that time.

Current progress on Clearstream Banking’s ECMS programme

Clearstream Banking continues to work closely with National Central Banks (NCBs), the ECB and other actors, on the refinement of these plans, in the best interest of its clients. In addition, as a member of the Collateral Management Harmonisation Task Force (CMH-TF) and its expert groups, that formulate and monitor the implementation of the SCoRE standards, Clearstream Banking continues to actively take part in discussions and represent its clients’ interests in the best way possible.

Further information on the impacts to clients is included in the attached updated Functional Specification document. Additional information on the client testing approach and timeline will be made available as part of a separate document in due course, as well as specific information for issuers and issuer agents.

Client support

To support clients during the implementation of SCoRE and ECMS, Clearstream Banking plans client information sessions, training and will provide regular updates on the progress via publications. The first information sessions will be held during the week of 22 May 2023. Click here to register. Further details are available on the dedicated ECMS and SCoRE Implementation webpage.

Further information

Should you have questions or require further information please contact, Clearstream Banking Client Services or your Relationship Manager.


1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.