Clearstream, the post-trade services provider of Deutsche Börse Group, and Deutsche WertpapierService Bank AG (dwpbank), one of the largest securities services providers for Germany’s financial market, have entered into a strategic partnership regarding the settlement of securities in a post-T2S world.
The goal of this long-term cooperation is to maximize the benefits from the ECB’s pan-European settlement platform TARGET2-Securities (T2S), which aims at harmonizing and simplifying the settlement of securities across Europe. Following the final T2S migration wave, Clearstream will gradually roll out its T2S solution on a market-by-market basis, starting in March 2018. dwpbank will be among the first customers to benefit from this comprehensive offering.
Clearstream helps market participants to reduce the complexity and costs of their market connections by providing a centralized access to the T2S market, international markets and global markets. Its enhanced integrated T2S offering spans issuer, investor, and international CSD (ICSD), i.e. settlement in commercial and central bank money via one single platform.
dwpbank will also profit from Clearstream’s local market partner model, which combines the company’s global settlement expertise with the market know-how of local agents. Besides, Clearstream’s post-trade offering is complemented by trading and clearing services of Deutsche Börse Group via Xetra and Eurex.