Clearstream sees Web interfacing picking up steam

Clearstream sees Web interfacing picking up steam

Clearstream says 200 customers have signed up to CreationOnline, the interactive Web browser interface to the Creation settlement platform that was introduced by the European depository five months ago.

Clearstream says customer adoption rates have steadily climbed since since roll-out in September last year, and have now reached 120% of initial internal target levels at this stage.

CreationOnline is one element of a suite of three connectivity channels, collectively called CreationConnect, that are designed to provide real-time access to Clearstream's clearing and settlement functions. In addition to CreationOnline, customers are able to use an automated system-to-system interface called CreationDirect, and Creation via Swift which gives access via the interbank messaging network.

Andreas Lechtenberg, head of settlements at WGZ Bank Luxembourg, and an early CreationOnline adopter, says: "CreationOnline moves us from offline processing to online. Real time validation means better risk control in our back office and thanks to the hourly updated cash balances in CreationOnline, we are now able to manage our cash positions more efficiently."

Comments: (0)