Clearstream provides triparty service 24 September 2014Luxembourg Reporter: Tammy Facey
Image: Shutterstock
Triparty agent Clearstream is to provide Eurosystem triparty collateral pledge services to participants, following the European Central Bank (ECB) creating cross-party triparty services on 29 September.
The changes will improve access to Eurosystem liquidity by enabling the allocation of ECB-eligible collateral held in third countries to national banks of a cross-border basis.
The cross-border triparty collateral management services will be introduced under the Correspondent Central Banking Model (CCBM) and will be provided by both Clearstream’s international central securities depository (ICSD) and its central securities depository (CSD) in Germany.
Stefan Lepp, Clearstream executive board member in charge of global securities financing, said: “Thanks to these changes of the ECB, customers can benefit from automated triparty allocation by Clearstream to their home central banks.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 