Technology services: Vermeg
Vermeg’s Megara is the engine behind Europe’s landmark collateral ecosystem
Before the Eurosystem Collateral Management System (ECMS) – powered by Vermeg’s Megara platform – went live on June 16, 2025, the eurozone’s collateral operations were fragmented across more than 20 national systems, each with its own procedures and interfaces.
This fragmentation created inefficiencies, limited transparency and heightened operational risk. The Eurosystem’s goal was to deliver a single, harmonised, real-time infrastructure capable of supporting monetary policy operations and
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