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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%
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
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
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.