Euroclear sees increase in assets under custody
19 February 2020 Brussels
Image: Shutterstock
Euroclear has revealed its FundsPlace product has continued to attract asset managers and exchange-traded funds issuers with fund assets under custody rising to €2.4 trillion last year.
The Belgium-based post-trade services provider revealed that at year-end it held €31.4 trillion of assets under custody.
The results also showed that the average value of securities held on behalf of Euroclear clients continued to grow, showing a 5 percent increase in 2019, to €30.1 trillion compared to €28.8 trillion in 2018.
Elsewhere, revenues increased by 8 percent, compared to the year prior where they amounted to €1,435 million.
Euroclear explains that business income rose by 6 percent to €1,145 million due to the delivery of its “strategic initiatives and benefit of positive market conditions”.
Moreover, its banking and “other income” increased by 13 percent to €290 million, which Euroclear says was “boosted by higher US interest rates in the first half of 2019”.
Elsewhere, the firm revealed that its Collateral Highway platform mobilised a yearly average of €1.3 trillion, up 6 percent on 2018.
Commenting on the results, Lieve Mostrey, CEO of Euroclear, said that 2019 was a record year for the firm.
Mostrey added: “Looking forward, despite headwinds from lower interest rates environment, we continue to invest in customer and product expansion and to enhance our technology. By remaining focused on delivering our strategic objectives, we expect to create further value for all our stakeholders."
The Belgium-based post-trade services provider revealed that at year-end it held €31.4 trillion of assets under custody.
The results also showed that the average value of securities held on behalf of Euroclear clients continued to grow, showing a 5 percent increase in 2019, to €30.1 trillion compared to €28.8 trillion in 2018.
Elsewhere, revenues increased by 8 percent, compared to the year prior where they amounted to €1,435 million.
Euroclear explains that business income rose by 6 percent to €1,145 million due to the delivery of its “strategic initiatives and benefit of positive market conditions”.
Moreover, its banking and “other income” increased by 13 percent to €290 million, which Euroclear says was “boosted by higher US interest rates in the first half of 2019”.
Elsewhere, the firm revealed that its Collateral Highway platform mobilised a yearly average of €1.3 trillion, up 6 percent on 2018.
Commenting on the results, Lieve Mostrey, CEO of Euroclear, said that 2019 was a record year for the firm.
Mostrey added: “Looking forward, despite headwinds from lower interest rates environment, we continue to invest in customer and product expansion and to enhance our technology. By remaining focused on delivering our strategic objectives, we expect to create further value for all our stakeholders."
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