DekaBank goes to Clearstream for cross-border aid 23 November 2016Luxembourg Reporter: Mark Dugdale
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DekaBank has picked Clearstream to support domestic settlement of its cleared trading activity on Euronext, tpREPO and BrokerTec across Belgium, France and the Netherlands.
Clearstream Banking Luxembourg will act as DekaBank’s settlement agent for fixed income and equities to improve its liquidity and collateral management, which the international central securities depository achieves through pooling assets in one location for use elsewhere.
“We are delighted to have won DekaBank as a customer for our new cross-border settlement solution,” commented Philip Brown, Co-CEO of Clearstream Banking.
“This is an important step in the harmonisation of asset servicing across Europe, which enables market participants active in the Belgian, French and Dutch markets to benefit from improved and streamlined liquidity, collateral and risk management.”
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