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Clearstream launches cross-border settlement solution

First Published 24th November 2016

ICSD to provide settlement agent services to DekaBank for equity and fixed income. Domestic settlement of cleared trades in Belgium, France and the Netherlands.

Philip Brown, Clearstream

Philip Brown, Clearstream

Clearstream and DekaBank have developed a settlement solution that supports domestic settlement of DekaBank's cleared trading activity on Euronext, tpREPO and BrokerTec across the markets of Belgium, France and the Netherlands.

Clearstream's Settlement Agent Services aims to help banks to improve their liquidity and collateral management by pooling liquidity in one place and making collateral management more efficient. As part of its offering around TARGET2-Securities (T2S), Clearstream Banking Luxembourg will act as DekaBank's Settlement Agent for fixed income and equities in the relevant local Central Securities Depositories (CSDs).

Philip Brown, Co-CEO of Clearstream Banking said: "This is an important step in the harmonisation of Asset Servicing across Europe, which enables market participants active in the Belgian, French and Dutch markets to benefit from improved and streamlined liquidity, collateral and risk management."