Clearstream completes roll out of Investor CSD solution for T2S markets
Clearstream can now offer custody and settlement services for banks and their cross-border transactions in 99% of all T2S-in securities.
Clearstream can now offer custody and settlement services for banks and their cross-border transactions in 99% of all T2S-in securities.
The investment is the latest in a number of ventures made by Clearstream in the digital asset space.
The new business includes the combination of Clearstream’s existing Fund Desk and will service over $290 billion of assets under administration.
Primary investors Citi, Deutsche Bank, and Deutsche Börse raised $15 million for CloudMargin in its largest funding round to date.
Clearstream will use the WM-SRD-Hub for its central securities depositories (CSDs) in Germany and Luxembourg to comply with SRD II next month.
The decision comes after a strategic review on its securities services businesses in the region, and has instead opted to focus on its global custody product.
European asset managers in Ireland are faced with the challenge of moving to alternative ETF issuance and settlement models in order to limit the impact of Brexit.
The new link is part of Clearstream’s wider strategy to link emerging and frontier markets to its international central securities depository (ICSD) structure.
Clearstream is planning to use its involvements in recent DLT projects as a steppingstone to developing its own digitised CSD.
The Luxembourg-based CSD will use Finomial’s technology to automate trade documentation completion for funds in alternative assets.