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.
The success of the CreationConnect suite is attributed to giving customers the choice of three complementary communication channels. Each channel utilises the latest technology and security standards and gives customers three clear areas of benefits: flexibility, comprehensive reporting and standardisation. Customers have the flexibility to configure the channels so that they are easily adapted to their in-house systems. They have access to consolidated information from Clearstream's core processing technology called the Creation Platform which allows status reports to be generated and enables online queries to give immediate access to the latest information on instructions and positions. Finally - all communication channels comply with the ISO 15022 message standard and therefore by using industry standards customers will no longer have to provide support for multiple formats.
Andreas Lechtenberg, Head of Settlements, from WGZ Bank Luxembourg said, "CreationOnline moves us from offline processing to online. Real time validation means better risk control in our back office and thanks to the hourly updated cash balances in CreationOnline, we are now able to manage our cash positions more efficiently."
Matthias Ganz, Chief Operating Officer of Deutsche Börse said, "Through CreationConnect, our customers are experiencing vast improvements in the time and effort needed to monitor transactions and the choice of connectivity options gives them total flexibility depending upon their own needs"
