Euroclear Settlement for Euronext-zone Securities (ESES) is the settlement platform for stock exchange transactions on NYSE Euronext Brussels, Paris and Amsterdam and for off-exchange transactions in securities traded on the stock exchange, the so-called “Over-The-Counter operations” (OTC).

The settlement of securities transactions requires a mechanism of 'Delivery versus Payment' (DVP): the securities are delivered to the buyer only upon payment. The seller is paid only upon delivery of the sold securities.

International standards compel CSDs (Central Securities Depositories), such as Euroclear Belgium, to settle their transactions in central bank money.

Since the migration of ESES-BE to T2 Securities the settlement of the cash side of the securities transactions is carried out on the Dedicated Cash Accounts of the banks (and the stockbroking houses) participating in T2 Securities.

The supply of these accounts occurs through the RTGS accounts held in the Payment Module (PM) of the Single Shared Platform of TARGET2.