- Banking licence for its German CSD marks final CSDR licence for Clearstream
- CSDR represents major step towards a harmonised European post-trade space
(PRESS RELEASE) FRANKFURT, 26-Aug-2021 — /EuropaWire/ — Deutsche Börse Group (ETR: DB1), an international exchange organisation and innovative market infrastructure provider, has announced that its post-trade services provider Clearstream has obtained the CSDR licence for banking services for Clearstream Banking AG, its German central securities depository (CSD). The licence was granted by the German Federal Financial Supervisory Authority BaFin pursuant to Art. 54 CSDR (banking services). The authorisation is effective as of 24 August 2021.
The Central Securities Depositories Regulation (CSDR) set out with the goal to make markets more stable, transparent and efficient by regulating securities settlement and settlement infrastructures in a harmonised manner across the European Union. CSDR entered into force in 2014; industry implementation of its CSD-specific measures is ongoing.
This authorisation represents the final step in achieving full CSDR compliance for all of Clearstream’s CSDs. Clearstream’s German CSD, international CSD (ICSD, Clearstream Banking S.A.) and Luxembourg CSD (LuxCSD S.A.) already hold licences pursuant to Art. 16 CSDR. Its ICSD also holds a licence for banking services and an interoperable link (“Bridge”).
Via its international central securities depository (ICSD), Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 58 domestic markets worldwide. With 16 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities. Its subsidiary Clearstream Banking AG is the German central securities depository (CSD).
SOURCE: Deutsche Börse Group