Clearstream international, the European depository now wholly-owned by Deutsche Borse, has introduced improved cross-border settlement procedures between domestic and international markets in German securities.
The new service, offered by Clearstream Banking Luxembourg, provides a gateway for international investors to settle domestic transactions free and against payment through Clearstream's German domestic realtime settlement processing system (RTS).
The facility streamlines the processes between Clearstream's ICSD platform (Creation) and its German Domestic CSD platform (Cascade).
The settlement agency says the new service opens up improved collateral management opportunities and additional possibilities to resolve fails. It features additional same day back-to-back settlement opportunities and a three-and-half-hour settlement deadline extension - from 11.30am to 15.00pm.
The improvements also promise increased opportunities to settle same day transactions, says Clearstream, including same day Repo transaction resulting from trading activity on the Eurex Repo platform.