Clearstream is set to migrate to the ECB’s T2S initiative on 6 February.
Clearstream and DekaBank’s offering aims to simplify cross-border settlements.
Deal indicates growing need for firms to collaborate across the value chain.
Clearstream has successfully completed a migration dress rehearsal in Germany and Luxembourg in preparation of their planned migration to the TARGET2-Securities (T2S) platform.
SIX and Clearstream aim to have a memorandum of understanding in place by mid-December.
Bank Degroof Petercam will utilise Clearstream’s Vestima platform for its fund processing activities.
Clearstream has experienced a drop in its month on month and year to date custody figures.
Following last week's testing issues Clearstream says there will be no delay in its T2S rollout.
Community testing issues hits Clearstream in its third set of client tests.
The last wave of T2S implementation is due to take place in September 2017.