Our OneClearstream service level refers to our harmonised services spanning Clearstream Banking Frankfurt as German CSD; Clearstream Banking Luxembourg as international CSD (ICSD) and LuxCSD as Luxembourg CSD, - available to customers via a single interface and log-on.
Customers can choose between an ICSD account that provides commercial bank money settlement and asset services across 50+ markets and currencies, and a pan-European Investor-CSD account that provides central bank money settlement and asset services across all EUR markets, or a combination of the two. The enhanced Investor-CSD account provides direct access to TARGET2-Securities (T2S) and Eurobonds markets in Central Bank Money (CeBM) from a single account with best-in-class asset servicing.
By choosing OneClearstream, customers can reap the advantages across multiple areas of our business including, harmonised connectivity channels, streamlined custody network and improved asset servicing and collateral management services. Furthermore, as we activate new links to our German CSD we will significantly increase the scope of available assets.
New connectivity suite
Our harmonised service offering includes a new connectivity suite, ClearstreamXact, which grants customers streamlined user access to our full range of services from a single entry point. Our comprehensive connectivity solutions via the single user interface (Xact Web Portal), Xact File Transfer and Xact via SWIFT are fully harmonised between the CSD and ICSD.
Thanks to the connectivity framework of ClearstreamXact customers can securely and easily access and manage our wide range of ICSD and CSD services at the touch of a button.
Upgraded asset servicing
Clearstream will gradually rollout its upgraded asset servicing offering (income, corporate actions, tax, proxy voting) with full events scope coverage and lifecycle management, harmonised with ICSD standards, provided in partnership with leading local agents.
Our asset servicing model will go live in Q1 2018 and will offer the best possible asset services for settlement in the T2S environment. Customers will enjoy the best of both worlds through Clearstream - settlement in both commercial and central bank money on the T2S platform, with local expertise for asset servicing via our local partnerships.
Harmonised collateral management
Customers can already benefit from the enhancements to our collateral management offering in OneClearstream, including full triparty interoperability between Clearstream Banking’s CSD and ICSD.
In addition, a single collateral management system (OneCMS) manages their entire collateral pool across Clearstream’s CSD and ICSD, resulting in an optimised use of collateral across locations and enhanced liquidity management.
OneCMS allows Clearstream’s CSD to offer triparty collateral management services equal to the services offered by the ICSD. These services settle in T2S and include a triparty repo service settling in Euro Central Bank Money. T2S-eligible assets held at the ICSD can be (re)used as collateral at the CSD.
Harmonised securities lending
Clearstream Banking now offers a fails lending service that enhances settlement efficiency in T2S, which is equivalent to the current ICSD service and encompasses both fixed income and equity assets.
ASL principal is a unique service enabling customers to borrow or lend from a single pool of securities regardless of their settlement or custody location. Fixed income and equities held at the ICSD and at the CSDs are merged into one single pool of liquidity to maximise borrowing opportunities.