Many companies apply to Euroclear for clearing and settlement purposes as Euroclear acts as a common depository for global notes and securities. Euroclear issues an XS ISIN code, the “xs” being designated an an international ISIN code, or intonational securities identification number. Euroclear typically issues ISIN numbers for bonds. A global note offering typically obtains an XS-ISIN code from Euroclear or Clearstream.
Euroclear, one of the largest providers of securities transactions, is a user owned and governed financial services company. Based in Brussels, Belgium Euroclear specializes in the settlement of securities transactions as well as the safekeeping and asset servicing of these securities.