Clearstream says customer usage of its new corporate action processing service has exceeded initial expectations. Since its launch on 6 December last year, the service has attracted over 290 financial institutions and a total of 50,141 user interactions on CreationOnline. It has driven overall usage of the CreationOnline information service past 2 million interactions in December.
The new service aims to help Clearstream customers access and use integrated settlement and custody information through a single point of entry. Clearstream says customers can receive real time information on corporate action notifications, submit corporate action instructions on-line, and use links to related account information on data such as pending instructions, proceeds and balances that facilitate account reconciliation.
“Our focus is to understand the operational needs of our customers and to create solutions that meet their immediate needs,” says Volker Potthoff, Managing Director Banking and Custody Services at Clearstream International. “This new Corporate Actions service extends the capability of the already unique CreationOnline information service and is another example of the focus we have at Clearstream.”
CreationOnline currently has over 16,300 regular users spread across 78 countries.