OneClearstream now live and trading
15 November 2017 Frankfurt
Image: Shutterstock
Clearstream has launched OneClearstream, a new service aimed at automating collateral transfers across depositories.
The platform, which is now live, enables mutual customers of Clearstream Banking Luxembourg and Clearstream Banking Frankfurt mobilise assets across both the international central securities depository (ICSD) and central securities depositories (CSD).
Clearstream has already conducted the first collateral allocations on behalf of DZ Bank AG using OneClearstream collateral management service (OneCMS).
OneCMS, which forms part of Clearstream’s integrated offering for Target2-Securities (T2S), enables full triparty interoperability between Clearstream’s CSD and ICSD.
During this first collateral allocation where assets were mobilised out of DZ Bank AG’s account at Clearstream Banking Frankfurt to use as collateral at the ICSD towards the Federal Reserve’s Discount Window.
Previously, users had to realign their assets from the CSD to the ICSD to use them as collateral, but the new setup automatically realigns assets between both locations when needed.
The new platform represents the first phase of what Clearstream wants to achieve with OneCMS, where assets held at CSD level can be automatically mobilised and serve the customer’s collateral management activity at the ICSD.
The second phase of OneCMS will involve the CSD offering a ICSD-esque collateral management services settling in T2S, including a euro triparty repo service settling in central bank money.
From Q2 2018, Clearstream will start to roll out its T2S Investor CSD from Q2 2018 on a market-by-market basis.
Olivier Deutscher, head of short term liquidity, repo and collateral trading/group treasury from DZ Bank AG commented: “We are pleased that Clearstream has implemented a single collateral management service enabling full interoperability between Clearstream’s CSD and ICSD.”
“This new model will improve our management of liquidity and collateral, therefore helping to further unlock numerous operational efficiency gains.”
Fabrice Tomenko, co-head of GFF business and product development at Clearstream Banking SA, added: "We are in close cooperation with our customers to develop innovative T2S-based solutions.”
“Forming part of our enhanced integrated service offering, OneCMS shows that we are fully committed to helping our customers make the most of T2S.
The platform, which is now live, enables mutual customers of Clearstream Banking Luxembourg and Clearstream Banking Frankfurt mobilise assets across both the international central securities depository (ICSD) and central securities depositories (CSD).
Clearstream has already conducted the first collateral allocations on behalf of DZ Bank AG using OneClearstream collateral management service (OneCMS).
OneCMS, which forms part of Clearstream’s integrated offering for Target2-Securities (T2S), enables full triparty interoperability between Clearstream’s CSD and ICSD.
During this first collateral allocation where assets were mobilised out of DZ Bank AG’s account at Clearstream Banking Frankfurt to use as collateral at the ICSD towards the Federal Reserve’s Discount Window.
Previously, users had to realign their assets from the CSD to the ICSD to use them as collateral, but the new setup automatically realigns assets between both locations when needed.
The new platform represents the first phase of what Clearstream wants to achieve with OneCMS, where assets held at CSD level can be automatically mobilised and serve the customer’s collateral management activity at the ICSD.
The second phase of OneCMS will involve the CSD offering a ICSD-esque collateral management services settling in T2S, including a euro triparty repo service settling in central bank money.
From Q2 2018, Clearstream will start to roll out its T2S Investor CSD from Q2 2018 on a market-by-market basis.
Olivier Deutscher, head of short term liquidity, repo and collateral trading/group treasury from DZ Bank AG commented: “We are pleased that Clearstream has implemented a single collateral management service enabling full interoperability between Clearstream’s CSD and ICSD.”
“This new model will improve our management of liquidity and collateral, therefore helping to further unlock numerous operational efficiency gains.”
Fabrice Tomenko, co-head of GFF business and product development at Clearstream Banking SA, added: "We are in close cooperation with our customers to develop innovative T2S-based solutions.”
“Forming part of our enhanced integrated service offering, OneCMS shows that we are fully committed to helping our customers make the most of T2S.
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