Clearstream to close one of its IT hosting solutions
30 July 2019 Luxembourg
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Clearstream is expected to close one of its Luxembourg-based IT hosting solutions.
Clearstream explained that the loss of net revenue resulting from termination of the third-party services business in the Clearstream (post-trading) segment was balanced by consolidation effects from the acquisitions of GTX in its foreign exchange segment, and Swisscanto in the investment fund services segment.
Commenting on the decision, a Clearstream spokesperson said: “The third-party services business refers to IT hosting solutions that Clearstream performed for a few customers. The termination of this small business reflects a sharpening of Clearstream’s business focus.”
Clearstream explained that the loss of net revenue resulting from termination of the third-party services business in the Clearstream (post-trading) segment was balanced by consolidation effects from the acquisitions of GTX in its foreign exchange segment, and Swisscanto in the investment fund services segment.
Commenting on the decision, a Clearstream spokesperson said: “The third-party services business refers to IT hosting solutions that Clearstream performed for a few customers. The termination of this small business reflects a sharpening of Clearstream’s business focus.”
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