End-of-Year Letter from Hanna Vainio, CEO, Euroclear Sweden and Finland
Dear clients and stakeholders,
As we wrap up 2025, I want to take this opportunity before the holidays to say thank you and reflect on a year of significant progress and collaboration within the Nordic financial markets.
This year marks a major milestone for our organisation. We advanced our transformation agenda with a bold step: uniting Euroclear Finland and Euroclear Sweden under one leadership. This is more than an organizational change, it is a strategic commitment to harmonisation, efficiency, and innovation across the region.
Roughly three months ago I took the stage at the PostTrade360 conference in Stockholm and declared our commitment to building the preferred Nordic Central Securities Depository (CSD) and outlined our roadmap for accomplishing this – also known as the Nordic Transformation Programme.
A single CSD-platform based on the T2S-system, aligned across the Nordics, building on the successful transition already completed and up and running in Finland since 2023.
Together, the Swedish and Finnish markets represent a powerful financial ecosystem—one with significant assets, high settlement efficiency, and a strong client base. By uniting our capabilities, we are creating synergies that will reduce costs, align with European standards, and deliver greater value to our clients – a truly Nordic service offering.
Since my announcement at PostTrade360, things have moved quickly, to say the least.
Our recent gathering in Brussels of both our Finnish and Swedish User Committees was a testament to the power of collaboration. Through open discussions and shared insights, we are shaping a unified vision for the future of post-trade services in the region.
We have laid a strong foundation for the future. Our focus now shifts to execution, with dedicated teams currently being formed and the first deliverables set to begin next year. By 2027, we aim to be in full delivery mode, with technical implementation and client onboarding planned for 2028, and a go-live target of T2S in 2030.
This year has also showcased the strength of Sweden’s equity culture. Our latest shareholder report shows Swedish shareholder numbers at an all-time high – more than 2.8 million investors. This vibrant domestic ownership is a cornerstone of our market and sets Sweden at the forefront of global capital markets – an example for others to follow. Preserving and strengthening this foundation is essential, and we’re proud to play our part. In October, Nasdaq Stockholm saw the successful IPO of Verisure, one of the most significant IPOs in years, and one that Euroclear facilitated though the reopening of our CSD-links for equities earlier this year.
I am also pleased with our continued commitment to transparency and market insight through the release of our annual and quarterly shareholder reports. These reports, unique to Euroclear’s role as CSD and our position at the heart of the financial markets, have provided valuable data on investment trends, portfolio diversification, and market developments.
These insights have not gone unnoticed. Our reports have attracted widespread media attention, with top news stories in leading outlets such as Sveriges Radio Ekot, Dagens Industri, Affärsvärlden, etc. Reinforcing Euroclear’s position as a thought leader and trusted, independent source at the heart of Sweden’s financial market.
Euroclear’s role at the heart of the financial markets has never been more vital. We are committed to delivering secure, efficient, and innovative solutions that underpin the trust and stability of the Nordic financial ecosystem. As we move forward, we will continue to engage closely with our clients and stakeholders, ensuring that your voices help guide our transformation journey.
Thank you for your continued partnership and trust in Euroclear. I look forward to another year of progress and shared success.
God Jul och Gott Nytt År! Hyvää Joulua ja Onnellista Uutta Vuotta!
Warm regards,
Hanna Vainio
CEO, Euroclear Sweden and Finland
