07 July 2017
Reporter: Drew Nicol

Clearstream launches T2S pooled lending suite

Clearstream has boosted its securities lending service to allow assets to be accessed from a single pool as part of its migration to the Target2-Securities (T2S) settlement platform.

Users will gain access to Clearstream’s international central securities depository (ICSD) and its central securities depository (CSD) assets in a single location.

The move promises to overcome collateral fragmentation and maximise the use of customer’s assets by automatically allocating them for securities lending.

The improved service comes with the launch of Clearstream’s Automated Securities Lending (ASL) principal suite, which is offered under the banner of the OneClearstream offering.

OneClearstream allows customers to access Clearstream Banking Frankfurt as well as Clearstream Banking Luxembourg as ICSD, and also LuxCSD as the Luxembourg CSD.

According to Clearstream, ASL principal combines the efficiency of the ASL service with the simplicity and security of a principal structure and Clearstream Banking as sole counterparty.

ASL principal also minimises customer exposure to the upcoming mandatory buy-ins when settlement fails, which will come into force as part of the Central Securities Depositories Regulation.

The new connectivity suite includes access to ClearstreamXact, which allows customers to access ICSD and CSD services, including collateral management, settlement, cash management, asset servicing.

Clearstream stated that the launch of ASL’s pooled service is part of its long-term goal of offering customers a single pool of liquidity.

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