Clearstream International

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Clearstream
Clearstream.gif
Founded 2000
Headquarters Luxembourg
Key People Marc Robert-Nicoud, CEO
Products Clearing and settlement of fixed-income products and equities
Website clearstream.com

Cleastream International is a wholly-owned subsidiary of Deutsche Boerse, formed from the January 2000 merger of Cedel International and Deutsche Boerse Clearing. The business provides a variety of post-trade services, such as issuance, settlement, securities financing and general custodian banking.[1]

Clearstream has €13 trillion in assets under custody with more than 2,500 customers in 110 countries.[2]

History

Clearstream has many forerunners, but the main two are Deutsche Boerse Clearing and Cedel International. Deutsche Boerse Clearing was formerly Auslandskassenverein, the German Central Foreign Securities Depository, and Deutscher Kassenverein, the German Central Securities Depository, until 1996, when those entities merged.[3][4]

The merger of Cedel and Deutsche Boerse Clearing was announced in January 2000 and completed in 2002.[5]

Organization

Clearstream International S.A., based in Luxembourg, is a 100 percent owned subsidiary of Clearstream Holding AG, based in Frankfurt, which is in turn a 100 percent held subsidiary of Deutsche Boerse Group.

Clearstream International has five 100 percent wholly owned divisions:

Clearstream Global Securities Services, based in Cork, Ireland.
Clearstream Banking AG, based in Frankfurt, Germany.
Clearstream Banking S.A., based in Luxembourg.
Clearstream Services S.A., based in Luxembourg.
Clearstream Operations, based in Prague, Czech Republic.

and one 50 percent owned subsidiary:

LuxCSD S.A., based in Luxembourg.

Key People

  • Marc Robert-Nicoud, CEO

References

  1. Deutsche Borse Reaping Benefits of Diversity. The Financial Times.
  2. Clearstream Snapshot. Deutsche Boerse.
  3. Deutsche Boerse Group Company History - 1990-1999. Deutsche Boerse.
  4. The Handbook of International Financial Terms. Google Books.
  5. Deutsche Boerse Group Company History - 2000-2009. Deutsche Boerse.