Clearstream talks up corporate actions

Clearstream talks up corporate actions

International depository Clearstream says transaction volumes for its month-old corporate actions service have exceeded expectations. Market interest in the initiative comes as exchange parent Deutsche Börse gears up for the launch of a new reference data offering, Propis.

The corporate actions service, which was launched in December, enables Clearstream customers to access integrated settlement and custody information from a single point of entry.

Users are able to receive real-time data on corporate action notifications, to submit corporate action instructions and to access related account information such as pending instructions, proceeds and balances.

Clearstream says the service has attracted 290 financial institutions and a total of 50,141 user interactions since it was launched and has driven overall use of CreationOnline, its browser interface to the Creation settlement platform, to over two million interactions in December.

Deutsche Börse is launching its Propis initiative in the first quarter of the year, which will see the exchange distributing reference data - including corporate actions and new issues data - to third party vendors.

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