BizTerm Definition
Electronic Settlement Office
Full Definition

An electronic book entry transfer system for ECU securities. The Bank of England is currently developing the system and plans a live date in 1993. Also simply known as the ESO. It is intended to compete directly with Cedel and Euroclear. ESO is a further advance in the UK's strategy to expand its participation in the ECU markets. 1992 will also see the introduction of BoE liquidity facilities for the members of the ECU cash clearing mechanism. See also BoE, Stars, Central Gilts Office and Central Money-markets Office.

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