Client is the world's largest settlement system for domestic and international
securities transactions, covering both bonds and equities. Market
owned and market governed, the client provides securities services
to major financial institutions located in more than 80 countries
world-wide. In 2004, the Euroclear group had a combined turnover of
almost EUR 400,000 billion, while the total value of securities held
in custody exceeded EUR 15,000 billion.