Clearstream’s assets under custody rose to a new record level in the first quarter to €13.2 trillion, up 10% year-on-year, as it benefited from increased strength in the German domestic market.
Deutsche Boerse, which owns Clearstream, attributed the growth to “sustained equity price gains on the German domestic market, which increased the value of assets under custody to €6.2 trillion”.
International assets under custody amounted to €7 trillion, up 9.4%, partly due to the devaluation of the euro against the U.S. dollar, which in turn increased the euro vaue of assets denominated in dollars.
As a result, net revenue from Clearstream asset servicing units grew across the board. Custody net revenue was up 13.5% to €95.6 million, settlement rose 15% to €37.6 million, and global securities financing revenue (which includes repo, securities lending, and collateral management) increased 5.7% to €16.6 million.
Clearstream’s total net revenue in the quarter was €190.8 million, up 11.8% year-on-year. The full integration of Citco Global Securities Services (now Clearstream Global Securities Services) contributed €6.1 million to Clearstream’s revenues.
Clearstream Custody Business Hits New Heights in Q1
Clearstream’s assets under custody rose to a new record level in the first quarter to €13.2 trillion, up 10% year-on-year, as it benefited from increased strength in the German domestic market.