Deutsche Börse Group’s post-trade services provider Clearstream has successfully migrated the Belgian, Dutch, French, Italian and Luxembourgish markets onto its new TARGET2-Securities (T2S) Investor-CSD model. It thereby brings the first real cross-border volume onto the ECB’s pan-European settlement platform.
With this move, the vision of a harmonized settlement landscape for securities across national borders finally becomes a reality. Approximately 80% of the custody and settlement volume of T2S markets is now available through Clearstream’s Investor-CSD service, according to the latest 2016 full year figures published by the European Central Bank.
Clearstream is the first CSD to deploy a fully-fledged Investor-CSD strategy that allows its customers to access all T2S markets, in central bank money, and the international market through a single point of access. The roll out takes place on a market-by-market basis, further T2S-connected markets will follow over the coming months.