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Clearstream reports continued growth
09 December 2013
The group sees continued interest in its securities lending and collateral management services
Clearstream’s custody business grew 7% in November to €11.9trn compared to the same period in 2012.
Its German domestic business saw the greatest growth during the month by increasing its assets held under custody by 8%, compared with 6% growth in its international business.
Clearstream’s securities financing business – including tri-party repo, securities lending and collateral management – grew 10% to €602.6bn from November 2012. Year to date, the business’s monthly outstanding is just 1% higher than last year.
Stefan Lepp, head of global securities financing and member of the Clearstream executive board said the group is "encouraged" by the monthly figures, "which show positive developments across all [Clearstream's] business areas.
"In particular, I am delighted with the 10% increase in our global securities financing monthly outstanding, which reflects continued interest and confidence in our securities lending and collateral management products.”
Clearstream settled 10% more international transactions of which 82% were over the counter and 18% were stock exchange transactions. In the German market, the firm settled 12% more transactions than in November 2012, of which 65% were exchange transactions and 35% over the counter.
The group also saw a 17% increase in its investment funds services arm.