Clearstream's Global Securities Financing Services Breaks New Record - Average Outstanding Volumes Breaks Through EUR 150 Billion Milestone

Clearstream’s industry-leading Global Securities Financing services (GSF) has recently broken through a significant milestone with average weekly outstandings reaching EUR 150 billion at the end of January 2005. This represents an increase of over 35 per cent from the same period last year. Clearstream’s GSF business unit comprises Securities Lending Services and Collateral Management Services, with Triparty Repo as the largest contributor to the growth in volumes throughout 2004. Clearstream’s market share is rising in a market growing at a rate of around 20 percent year on year. This business area is a key focus for Clearstream in order to expand its services to meet the markets growing need for a full range of collateral management services.

The GSF suite of products makes it easier and cheaper for customers to access Clearstream’s ever increasing pools of securities and cash liquidity, thereby increasing settlement efficiency and lowering financing costs. Across a period of 10 years, Clearstream has pioneered the development of services in this sector and growth has more than tripled since January 2001. Clearstream is regarded as the leading provider of Global Securities Financing services to this sector through consistently outperforming other providers in annual surveys.

The International Securities Market Association (ISMA) has recently published the results of its seventh semi-annual survey of the repo market in Europe which valued the European repo market at just over Euros 4.5 trillion. The survey suggests that the repo market is growing at 19 per cent year on year.

Saheed Awan, Head of Global Securities Financing stated, “The key to achieving and maintaining our growth in this business was in getting all parts of service delivery functioning at peak performance and thereby delivering excellence across the board for the benefit of our customers. We will continue to accelerate our leadership in this sector and to ensure that Clearstream remains the first choice depository for holding collateral and other securities assets, under the most advanced legal and technological environment possible.”