19 April 2017
Reporter: Drew Nicol

Clearstream GSF suffers under EU QE

The quantitative easing policy of the European Central Bank continues to stifle EU securities financing businesses in the opening months of 2017.

Post-trade services provider Clearstream saw the volume outstanding of its global securities financing business fall by 12 percent in March, compared to the same period in 2016.

Outstanding volume last month reached €474.4 billion, down from €538.2 billion.

January to March average volume was also down to 8 percent, from €530.2 billion in 2016 to €486.3 billion in 2017.

Clearstream saw its assets under custody increased by 3 percent in March, from the same time in 2016, and by 4 percent, on average, year-to-date. Assets under custody now stand at €13.39 trillion, up from €12.98 trillion in March last year.

The Deutsche Börse subsidiary also recently expanded its repertoire of services with the launch of a new settlement solution for German debt for customers that clear German bonds and repos through LCH.

The move follows LCH’s extension of its RepoClear service to cash and repo trades on German government securities last month.

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