In 1997, the former IML published the circular letter 97/135, setting the place’s commonly defined LIBRAC-tool as the unique transmission tool to be used by Banks within the fulfillment of their reporting obligations.
SIX Payment Services (Europe) S.A. (previously CETREL S.A.), LIBRAC’s technical agent, decided ten years later to enhance its solution, and to align it with the new functional and technical requirements of the market. Using the SOFiE foundation, SIX Payment Services (Europe) S.A. (previously CETREL S.A.), launched a complete re-engineering of its service, and decided to commercialize this new reporting tool through its subsidiary: CETRELSecurities, specialized in financial data processing.
The preferred reporting channel of the Luxembourg market
SOFiE – SORT: a secured communication channel dedicated to legal reporting