Clearstream recorded an increase of 7.5% for total revenues at €718 million, driven by net income from its banking business.
Trade execution standards provider looks to move into back-office, as SWIFT responds by highlighting reasons to stick to ISO messaging.
Several complications related to corporate actions, differences in tax regimes and securities law between EU member states, have built barriers to entry for T2S.
Clearstream recently underwent an organisational restructure and combined its sales, relationship management and client services activities into one joint division.
New cross-border custody and settlement service to act as a single gateway to TARGET2-Securities (T2S) and international markets.
Clearstream recently signed two key emerging market sub-custodian deals, one in Romania and the other in Colombia.
The decade-long building and implementation of the pan-European settlement system came under fire at the Sibos expo in Sydney as market participants face up to the realities of the project.
The move will enable CACEIS to add Italy to the list of European countries in which it already operates directly through T2S.
AFME recently published a new report arguing post-trade reforms need to go further to remove harmonisation barriers.
Graham Ray named EMEA head of securities services for Deutsche Bank, with Jeslyn Tan appointed deputy head of global product management in Singapore.