Securities financing services rise for Clearstream
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Securities financing services rise for Clearstream 07 October 2013Luxembourg Reporter: Georgina Lavers
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Assets under custody increased by 5 percent year-on-year and securities finance services increased by 4 percent, in a fairly good batch of September figures for Clearstream.
In September 2013, the value of assets under custody held on behalf of customers registered an increase of 5 percent to €11.7 trillion, compared to €11.2 trillion in September 2012.
Securities held under custody in Clearstream’s international business increased by 2 percent from €6 trillion in September 2012 to €6.2 trillion in September 2013, while domestic German securities held under custody increased by 7 percent year-on-year.
However, international settlement transactions decreased by 1 percent over September 2012.
Of all international transactions, 85 percent were OTC transactions and 15 percent were registered as stock exchange transactions.
For global securities financing (GSF) services, the monthly average outstanding reached €575.2 billion. The combined services, which include triparty repo, securities lending and collateral management, collectively experienced an increase of 4 percent year-on-year.
But at €571.3 billion, the year-to-date September 2013 GSF monthly average outstanding is just 1 percent below the same period last year.
Philip Brown, head of global client relations and member of the executive board of Clearstream, said: “The 5 percent rise in the volume of our assets under custody compared to the same month last year offers us reassurance that customers have trust in our business model, service suite and our strategy."
"This vote of confidence comes at the time when financial institutions and corporates have to select the providers, which will best help them navigate the current regulatory complexity. Many of the regulatory initiatives call for radical changes to their business models and our customers are gearing up in time to be well-positioned for the emerging market landscape.”
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