Clearstream & DekaBank launch settlement solution
Clearstream will provide DekaBank with domestic
settlement of cleared trading activity on Euronext, tpREPO and BrokerTec across
Belgium, France and the Netherlands.
The simplified cross-border settlement solution aids the harmonisation of European post-trade practices under the EU’s TARGET2-Securities (T2S) initiative.
Philip Brown, co-CEO of Clearstream Banking, said of winning DekaBank as a customer for its cross-border settlement solution: “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.”
Clearstream’s solution pools liquidity in one place with the aim of making collateral management more efficient.
The international central securities depository (ICSD) will act as the DekaBank’s settlement agent in
each of the three local CSDs.
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