Euroclear, the international central securities depository, has implemented an extensive restructuring following its acquisition of the UK's CrestCo settlement system in July.

The Brussels-based depository said the reorganisation would enable it to deliver its single settlement engine, the core of the merged companies' new business model. It aims to create a domestic European settlement market for Euroclear's five central securities depositories in Belgium, Ireland, the UK, France and the Netherlands.