Need of beginner Guide to Euroclear and Clearstream

[troubled soul]

I find two International central securities depository (ICSD) named Euroclear and Clearstream.
Can anybody explain it in simple version?
Is it possible to open Personal account with them ?
Or How to open account with them ?
Do they accept Non euro People.
I try to read on their website . But find too difficult to Understand.

Basically simple version wiki of Euroclear and Clearstream.
What is that ?
How they are useful ??
What are significant to hold asset with them?
How to transfer asset to them?

Like say I have bond/stock portfolio on Interactive broker . How to transfer that asset to Euroclear ?


Sorry for ignorance in Advance.

 

[Thepopo]

They are clearing houses that clear operation of extremely high volume between brokers every night‌ (to make it extremely simple).
Their accounts are for institutions that can put few dozen‍ of billions.
Example of client of Euroclear : the Lybian state.
They are useful because⁠ they are the last step of an asset transfer or asset holding. Your brokers when⁤ you sell an asset, uses the clearing house to transfer it. When you are a⁣ state that own hundred billions in asset, you prefer to directly use the clearing house⁢ to save time

 

[Thepopo]

Here are their fees, and as you can see, it's expressed in billions of euros‌
https://my.euroclear.com/dam/EB/Tariff information/MA0007-General fees brochure.pdf

 

[Martin Everson]

Yes.

But do check euroclear still offer the‍ below service it as compliance has gone made in recent years.

https://www.euroclear.com/dam/Brochures/Personal-membership-EUI.pdf

Not for personal account

You DFP it to them i.e delivery free of payment.⁤ Your broker would take care of this with euroclear under your instruction.