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Clearstream sees growth in custody business

11 June 2014


The German settlement business however fell 13% in May from last year while securities financing grew 3%

Read more: Clearstream custody securities financing

Assets held under custody at Clearstream increased 4% in May compared to the same month in 2013.

The total value of assets that the central securities depository (CSD) holds on behalf of clients rose from €11.7trn in May 2013 to €12.1trn.

The firm's international business had the most growth, rising 5% to €6.1trn. Custody assets in Clearstream's local German CSD business rose at a smaller rate of 3% from May 2013 to €5.7trn in May 2014.

Between January and May, the CSD's combined German and international custody business grew 5% compared to the same period last year.

Clearstream's settlement business did not do so well, where international transactions fell 1% in May compared to 2013. In the German market, settlement transactions dropped 13% to 6.56 million. Clearstream said the fall was due to fewer business days in May as well as less trading activity on stock exchanges in the German and international markets.

Its investment fund services business fared much better with 10% growth compared to May 2013.

Clearstream's global securities financing (GSF) business, which includes tri-party repo, securities lending and collateral management, grew at a rate of 3% during the month to €574.bn.

Between January and May the business expanded by 3% year to date compared to the same periof in 2013.

Marc Robert-Nicoud, member of the executive board of Clearstream responsible for strategy, said the firm is focusing on preparing for Target2-Securities and to help clients transition into the new post-trade environment.

 


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