Clearstream's CreationOnline Service Launches New Features - Number Of Customers Using Service Shows High Growth Rates

Clearstream announced important new features to its CreationOnline reporting and enquiry service including enhancements in reporting, online query and instruction functionalities. 15 new enhancements have been introduced including multi-user capability; multi-criteria queries; back-to-back transaction linking and information on multiple depositories for securities listed on several exchanges. These new features have been developed following direct feedback from existing users and were launched on Monday 17, November 2003.

CreationOnline is the interactive web-browser interface to Clearstream's settlement platform Creation, and is the only such facility available to the international securities market. CreationOnline enables customers to directly access real-time information on their settlement transactions.

Since its launch in September 2002, customer adoption rates have been steadily climbing and now there are over 6,000 daily users from several hundred financial institutions. Trade instructions input by customers has almost trebled in the last six months and the usage of the Online Query functionality has doubled in the same period as it now covers important elements such as Tax refund and Income Pre-Advice data. Due to the benefits of using CreationOnline, many customers are migrating away from using the previous service called the Cedcom workstation.

CreationOnline is one element of a suite of three connectivity channels, collectively called CreationConnect. It provides customers with a choice of products to enable fast, secure and efficient communication with Clearstream Banking and its network of correspondent banks. CreationConnect provides real-time access to Clearstream's clearing and settlement functions and so enables a comprehensive range of value-added services to be offered seamlessly within the same environment. In addition to CreationOnline, customers are able to use an automated system to system interface called CreationDirect and Creation via SWIFT which gives access to the Creation Platform through the SWIFT network.

Fraser Mackenzie, Director, Head of European Fixed Income & Equity Operations at Barclays Capital, London, stated: "We have used CreationOnline for over six months and it has allowed us to enhance our monitoring and management of transaction settlement. Moreover, the real-time on-line query facility to Clearstream's Creation settlement platform allows us to manage our cash and collateral positions with greater efficiency which ultimately provides improved risk control within our operations department."

Volker Potthoff, Managing Director Banking and Custody Services of Clearstream added. "Customers are really discovering the simplicity and usefulness of Creation-Online and we see that this online service gives us an important advantage as no other ICSD can offer this service today."