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Clearstream Frankfurt increases market efficiency of cash clearing processes

(PresseBox) (Frankfurt am Main, )
On 17 November 2008, Clearstream Banking Frankfurt (CBF) has successfully introduced its new day-time cash clearing processes via TARGET2. With this step CBF finalized the migration of its cash clearing to TARGET2. TARGET2 is a uniform platform, which enables efficient Europe-wide payment transactions in Euros and interlinking participating national central banks as well as the European Central Bank.

This allows customers increased cash management efficiency by further concentrating their activities onto TARGET2 Real Time Gross Settlement "RTGS" accounts. In addition Deutsche Bundesbank and CBF extended their Self Collateralisation service from night time until 10:00 a.m. thus providing an additional time frame for funding CBF's daytime settlement with central bank liquidity. With these steps CBF further improves its offering for securities settlement in central bank money and helps increase the safety and efficiency of the market.

Andreas Wolf, CEO of CBF Executive Board: "The successful migration to TARGET2 demonstrates Clearstream's commitment to raising the level of market efficiency and to addressing the needs of our national and international customer base.

Additionally market participants will benefit from this implementation when they use CBF for the access to Link Up Markets (1) in 2009."

(1) Link Up Markets a joint venture by eight leading Central Securities Depositories to improve efficiency and reduce costs of post-trade processing of cross-border securities transactions in Europe.
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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.