Clearstream enhances settlement solution 04 June 2018London Reporter: Jenna Lomax
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Clearstream is enhancing its settlement solution for RepoClear transactions, enabling customers to settle various European cash bonds and repo markets directly into Clearstream鈥檚 international central securities depository (ICSD).
From October this year, Cleartstream鈥檚 ICSD will offer a new power of attorney (PoA) service to customers who are clearing members or agents of clearing members of LCH SA/Banque Centrale de Compensation to settle German debt securities in commercial bank money.
According to Clearstream, this initiative will complement the existing ICSD and CSD PoA services for clearing members of LCH, as well as its CSD PoA service for clearing members of LCH SA鈥攁llowing settlement in both commercial and central bank money.
From December this year, Clearstream will add Austrian, Dutch, Finnish and Portuguese debt and then Irish, Slovakian, Slovenian and supranational debt will be made available in early 2019.
The solution enhancements follow LCH Group鈥檚 recent decision to extend the RepoClear service via its Paris-based entity, LCH SA.
Clearstream already covers the lifecycle of German debt securities from issuance, settlement in TARGET2-Securities (T2S), asset servicing and automatic lending and borrowing services.
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