Growth in Clearstream AUC shows T2S support 21 March 2014 Frankfurt Reporter: Georgina Lavers
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Clearstream’s February 2014 figures show assets under custody increasing and continued growth across settlement and securities financing, seemingly showing early customer support of the firm’s T2S strategy.
In February 2014, the value of assets under custody held on behalf of customers registered an increase of 6 percent to €12.1 trillion (compared to €11.4 trillion in February 2013).
For global securities financing (GSF) services, the monthly average outstanding in February 2014 reached €581.1 billion. The combined services, which include triparty repo, securities lending and collateral management, collectively experienced an increase of 3 percent over February 2013 (€563.3 billion).
Securities held under custody in Clearstream’s international business as international central securities depository (ICSD) increased by 5 percent from €6.1 trillion in February 2013 to €6.4 trillion in February 2014.
Domestic German securities held under custody in the German central securities depository (CSD) increased by 7 percent year-on-year.
In February 2014, 3.7 million international settlement transactions were processed, a 10 percent increase over February 2013 (3.3 million).
Of all international transactions, 82 percent were OTC transactions and 18 percent were registered as stock exchange transactions.
Investment Funds Services (IFS) processed 0.7 million transactions in February 2014, a 17 percent increase over February 2013 (0.6 million).
Jeffrey Tessler, CEO of Clearstream, said: “TARGET2-Securities will transform the post-trade landscape and as go-live approaches, T2S readiness figures very high on the agenda of many customers and prospects.
We take the fact that customers continue to shift asset volumes to us as early support of our strategic plans. Our focus is therefore on executing our T2S strategy and on building and delivering the best value proposition for the emerging market landscape."
"At the same time, we continue to outline the T2S benefits to the market, some of which are not obvious—for example, in the area of capital and liquidity management.”
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