Clearstream International
| Clearstream | |
| |
| Founded | 2000 |
|---|---|
| Headquarters | Luxembourg |
| Key People | Marc Robert-Nicoud, CEO |
| Products | Clearing and settlement of fixed-income products and equities |
| Website | clearstream.com |
Clearstream International is a wholly-owned subsidiary of Deutsche Boerse, formed from the January 2000 merger of Cedel International and Deutsche Boerse Clearing. It operates the German and Luxembourg central securities depositories and an international central securities depository for the Eurobonds market. The business provides a variety of post-trade services, such as issuance, settlement, securities financing and general custodian banking.[1]
It is one of the world’s largest settlement and custody firms for domestic and international securities, with 18 trillion Euros in assets under custody and more than 2,500 customers in 110 countries.[2]
On April 27, 2024, Clearstream announced its intention to make an investment in Digital Vault Services (DVS), a fintech company offering issuance and safekeeping services for digital bank guarantees and sureties in Europe.[3]
Clearstream said it would offer cryptocurrency settlement and custody services to institutional clients in 2025, starting with Bitcoin and Ether in April of 2025. It will use Deutsche Boerse’s subsidiary Crypto Finance as a sub-custodian.[4]
History[edit]
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.[5][6]
The merger of Cedel and Deutsche Boerse Clearing was announced in January 2000 and completed in 2002.[7]
In April of 2023, Clearstream created a new bank in Luxembourg, Clearstream Fund Centre S.A., dedicated to serving institutional fund investors. The new bank will serve Clearstream’s fund execution business Vestima, providing access to more than 230,000 funds in over 50 markets.[8]
On March 16, 2026, Clearstream and Euroclear Bank, the two International Central Securities Depositories (ICSDs), announced that they launched their respective dematerialized Eurobond issuance services, making them live and available for market use. Clearstream said this marked a major milestone in the evolution of the €15.3 trillion Eurobond market. Issuers can now bring Eurobonds to market in fully paperless form through both Clearstream and Euroclear.[9]
Organization[edit]
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[edit]
- Samuel Riley, Chief Executive Officer of Clearstream Holding AG
- Philip Brown, Chief Executive Officer of Clearstream Banking S.A.
- Dr. Stephanie Eckermann, Chief Executive Officer of Clearstream Banking AG
- Dr. Moritz Dechow, Chief Executive Officer of Clearstream Fund Centre AG, Management Board
References[edit]
- ↑ Deutsche Borse Reaping Benefits of Diversity. The Financial Times.
- ↑ Clearstream Snapshot. Deutsche Boerse.
- ↑ Clearstream to invest in Digital Vault Services. Deutsche Börse Group.
- ↑ Deutsche Boerse’s Clearstream to Offer Crypto Custody. Bloomberg.
- ↑ Deutsche Boerse Group Company History - 1990-1999. Deutsche Boerse.
- ↑ The Handbook of International Financial Terms. Google Books.
- ↑ Deutsche Boerse Group Company History - 2000-2009. Deutsche Boerse.
- ↑ Clearstream creates new Luxembourg-based bank for global financial institution fund investors. Clearstream.
- ↑ Clearstream and Euroclear Digitize Eurobond Issuance Revolutionizing the Market. Deutsche Boerse.