The Belgian KBC and the company EDS have formed a joint venture that will entirely cover international payments for the Belgian banks and other financial establishments. KBC holds 90% of the stock in this independent company against 10% for EDS. Furthermore, KBC SECURITIES (profits of more than BEF 2 billion in 1999), the KBC stock market company, acquired its Dutch counterpart KEIJSER EFFECTEN. The financing of this operation, whose value has not been revealed, is ensured by the funds belonging to KBC SECURITIES, which at the end of 1999 was valued at some BEF 3.8 billion.