Neue Börsenstr. 1
60487 Frankfurt am Main, de
+352 (243) 31500
Clearstream first settlement system legally recognized for Japanese municipal and corporate bonds
Clearstream has been granted the Foreign Indirect Management Institution status(FIAMI) from the Japan Securities Depository Center, Inc. (JASDEC). Due to this status Clearstream will be able to offer services for municipal bonds as well as value-added services such as withholding tax exemption benefits on corporate bonds. These services will be operational as soon as the relevant Japanese Tax Offices will have approved Clearstream's Qualified Foreign Intermediary(QFI)status.
The Japanese municipal bonds market in 2007 has grown to JPY 200 trillion (USD 1.67 trillion) on a balance basis according to research by Mizuho, the Japanese bank.
In 2006 Clearstream was the first international securities depository(ICSD) to offer settlement of interest bearing Japanese Government Bonds (JGBs) outside Japan. With over USD 7 trillion of securities in issuance, the Japanese government debt market is the largest in the world. A year later, Clearstream opened an office in Tokyo to complement its Asia Pacific network.
Philippe Metoudi, Member of the Executive Board, responsible for Relationship Management for Asia-Pacific, Middle East and Africa, Clearstream, said "We are proud to be the first settlement system outside Japan to receive the FIAMI status. With this status Clearstream has the opportunity to support even further its commitment to Japan and to the Asia Pacific region."
Notes to editors About Clearstream:
Clearstream is an international securities depositary (ICSD) headquartered in Luxembourg and is an integral part of Deutsche Börse Group, the world's leading exchange organization. Clearstream is the settlement and custody division of the group providing services to over 2,500 financial institutions across the globe. Clearstream currently holds in assets under custody over EUR 10.9 trillion. The combined group provides technology, services and products from trading and information products to clearing, settlement and custody based on straight-through processing and interoperability standards to all stages of the processing chain.
For further information, visit our website www.clearstream.com.
Die Nutzung von hier veröffentlichten Informationen zur Eigeninformation und redaktionellen Weiterverarbeitung ist in der Regel kostenfrei. Bitte klären Sie vor einer Weiterverwendung urheberrechtliche Fragen mit dem angegebenen Herausgeber. Bei Veröffentlichung senden Sie bitte ein Belegexemplar an firstname.lastname@example.org.