Business stream 1: Custody
In September 2014, the overall value of assets under custody held on behalf of customers registered an increase of 5 percent to EUR 12.3 trillion (compared to EUR 11.7 trillion in September 2013).
Securities held under custody in Clearstream’s international business as international central securities depository (ICSD) increased by 7 percent from EUR 6.2 trillion in September 2013 to EUR 6.6 trillion in September 2014.
Securities held under custody in the German central securities depository (CSD) increased by 3 percent from EUR 5.5 trillion in September 2013 to EUR 5.7 trillion in September 2014.
For the period year-to-date September 2014, the combined value of assets under custody in the German domestic CSD and global ICSD business increased by 5 percent compared to the same period last year (YTD September 2014: EUR 12.1 trillion; YTD September 2013: EUR 11.5 trillion).
Business stream 2: Settlement
In September 2014, 3.6 million international (ICSD) settlement transactions were processed, a 13 percent increase over September 2013 (3.2 million). Of all international transactions, 84 percent were OTC transactions and 16 percent were registered as stock exchange transactions.
On the German domestic market, CSD settlement transactions in September 2014 reached 6.4 million, 2 percent more than in September 2013 (6.3 million). Of these transactions, 62 percent were stock exchange transactions and 38 percent OTC transactions.
For the period year-to-date September 2014, the number of settlement transactions (OTC and stock exchange combined) processed for the German domestic CSD and global ICSD business combined increased by 3 percent compared to the same period last year (YTD September 2014: 93.2 million; YTD September 2013: 90.9 million). The Investment Funds Services business contributed to this growth in the ICSD business as its corresponding transactions registered an 11 percent increase.
Business stream 3: Global Securities Financing
For Global Securities Financing (GSF) services, the monthly average outstanding in September 2014 reached EUR 632.2 billion. The combined services, which include triparty repo, securities lending and collateral management, collectively experienced an increase of 10 percent over September 2013 (EUR 575.2 billion).
The GSF monthly average outstanding has grown by 5 percent from the period year-to-date September 2013 (EUR 571.3 billion) to the period year-to-date September 2014 (EUR 601.7 billion).
Business stream 4: Investment Funds Services
Investment Funds Services (IFS) processed 0.7 million transactions in September 2014, a 21 percent increase over September 2013 (0.6 million).
IFS transactions have grown by 11 percent from 5.8 million processed in the period year-to-date September 2013 to 6.5 million in the period year-to-date September 2014.
Commentary
Philip Brown, Head of Global Client Relations and Member of the Executive Board of Clearstream, commented: "Various regulations are about to enter into force over the coming months and all market participants are now entering an intense preparatory phase during which they will have to make some significant investment decisions. The main industry event, SWIFT's Sibos, which took place at the end of September, underlined to us that regulatory readiness is now a major priority - and that it will thus become a concern for those who don't mobilise. Our customers tell us they are no longer looking for concepts; rather, they want concrete solutions for EMIR compliance, migration to TARGET2-Securities, and support for their increased capital and liquidity needs. Projects which address these market challenges are well on track within our delivery roadmap and will go live as we progress towards T2S. The fact that our clients continue to entrust us with a greater proportion of their business, as evidenced by our growing volumes across the board, is a great vote of confidence that we are a reliable partner - and encourages us to continue to deliver those solutions that clients tell us they need."
Core business figures | ||
September 2013 | September 2014 | |
Settlement transactions (in millions) | ||
OTC | 2.69 | 3.01 |
Stock Exchange | 0.49 | 0.58 |
International | 3.18 | 3.59 |
OTC | 2.35 | 2.46 |
Stock Exchange | 3.96 | 3.95 |
Domestic | 6.31 | 6.41 |
Total | 9.49 | 10.00 |
Assets under custody (in EUR trillion) | ||
Total | 11.70 | 12.32 |
International | 6.17 | 6.60 |
Domestic | 5.52 | 5.72 |