Clearstream sees GSF volume shortfall in 2016
18 January 2017 Frankfurt
Image: Shutterstock
Clearstream’s global securities financing average outstanding volume fell by 14 percent in 2016.
The clearinghouse recorded €515.9 billion in outstanding volume for the year, down from €598.6 billion in 2015.
Clearstream also ended the year with its December global securities financing volume missing its 2015 target by 9 percent. Last month saw an outstanding volume of €492.5 billion, compared to €542.1 billion 12 months before.
Clearstream is on the cusp of finally going live on the Target2-Securities (T2S) platform as part of the initiative’s fourth phase of implementation on 6 February, which will include the large German market.
Originally, Clearstream was expected to couple with the platform during the third phase back in September 2016 but was scuppered by Euroclear, which had pushed back from phase two after missing its preparation deadline.
As two of the largest EU clearinghouses to utilise the platform, it was deemed impractical to initiate both in the same phase.
Clearstream alone is expected to bring about 40 percent of the overall volume to the settlement platform.
This will lead to a doubling of current volumes, according to Clearstream.
The clearinghouse recorded €515.9 billion in outstanding volume for the year, down from €598.6 billion in 2015.
Clearstream also ended the year with its December global securities financing volume missing its 2015 target by 9 percent. Last month saw an outstanding volume of €492.5 billion, compared to €542.1 billion 12 months before.
Clearstream is on the cusp of finally going live on the Target2-Securities (T2S) platform as part of the initiative’s fourth phase of implementation on 6 February, which will include the large German market.
Originally, Clearstream was expected to couple with the platform during the third phase back in September 2016 but was scuppered by Euroclear, which had pushed back from phase two after missing its preparation deadline.
As two of the largest EU clearinghouses to utilise the platform, it was deemed impractical to initiate both in the same phase.
Clearstream alone is expected to bring about 40 percent of the overall volume to the settlement platform.
This will lead to a doubling of current volumes, according to Clearstream.
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