The Euroclear groups safe haven attributes, particularly during the difficult financial market conditions in 2009, attracted market participants to deposit a record level of securities for safekeeping with Euroclear. At the end of 2009, EUR 20.2 trillion of client assets were held by Euroclear entities, an increase of 12% compared with the end of 2008. The number of netted transactions processed by the Euroclear group rose by 14% to 180 million in 2009, although the aggregated value of transactions settled by Euroclears international and national central securities depositories declined by 8% to EUR 513.5 trillion during the year.
The turmoil in 2009 was a major challenge for the securities markets, says Pierre Francotte, chief executive officer of Euroclear SA/NV. In this delicate environment, Euroclear was able to gain business and demonstrate its technical resilience and operational stability. Asset protection and risk management are two areas in which Euroclear has been a recognised leader for many years. This has contributed to the solid – and by some measures record – operational performance we achieved in a difficult market.
As trading volumes varied by country and type of security in 2009, operating performance fluctuated among Euroclear entities, with some experiencing year-over-year gains in some measures while declining in others. The 2009 results reflect the first full year of data from Euroclear Finland and Euroclear Sweden, which became part of the Euroclear group at the end of October 2008. The 2008 data only includes the months of November and December for Euroclear Finland and Euroclear Sweden.
Operating highlights
The combined and entity-specific results of the Euroclear group are:
The value of securities held for Euroclear clients at the end of 2009 was a record EUR 20.2 trillion, 12% higher than the EUR 18.1 trillion at year-end 2008. Turnover, or the value of securities transactions settled, was EUR 513.5 trillion in 2009, an 8% decrease compared with the EUR 559.8 trillion reported in 2008. The number of netted transactions settled in the Euroclear group increased by 14% to a record 179.6 million in 2009 compared with 157.3 million in 2008. The combined daily value of collateral provision outstanding in Euroclear Bank and Euroclear UK & Ireland rose by 28% in 2009 to EUR 544.2 billion from EUR 424.3 billion at the end of 2008.
D.C.