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Matthias Ganz, Chief Operating Officer of Deutsche Börse Group said, "With these new settlement routes Clearstream is delivering a substantial benefit to its customers as the routes enable 100 percent STP between the trading platforms and Clearstream. This further demonstrates our commitment to supporting our customers and enables them to make the best possible use of their assets held in custody with Clearstream. It is consistent with our strategy of offering the key elements of competition and choice across our industry."
These new efficient settlement routes will allow Clearstream customers to receive settlement instructions, generated by the trading platforms, directly onto their Clearstream accounts. Additionally, the new links will give Clearstream customers a greater opportunity to optimise the use of their assets held with Clearstream. To utilise these new links, Clearstream customers will simply have to complete a standard Power of Attorney, granting the right to the respective trading platform to forward settlement instructions on their behalf to their Clearstream account.
Clearstream Banking Luxembourg is already a settlement location for 17 trading platforms and Central Counterparties (CCP), in addition to the trading platforms and CCP run by the Deutsche Börse Group. In the future the number of routes created to Clearstream Banking Frankfurt's CASCADE system and Clearstream Banking Luxembourg's CREATION system can be increased to further widen the choice of settlement locations for other trading platforms and CCPs.
