User Committee

According to the CSD Regulation, a CSD is required to establish a User Committee for each security settlement system it operates.

Clearstream Banking AG (CBF) operates the securities settlement systems CASCADE and Creation and offers services through both systems. Consequently, CBF established two user committees.

The committees consist of representatives of issuers and participants in the securities settlement systems.

Members

Selected members of the CBF User Committee CASCADE

  • BNP Paribas
  • Citigroup
  • Commerzbank
  • Deutsche Bank
  • Dwpbank
  • HSBC  

Selected members of the CBF User Committee Creation     

  • BNP Paribas
  • Commerzbank
  • Deutsche Bank
  • Dwpbank
  • HSBC  
  • LBBW

Tasks and responsibilities

Pursuant to Article 28 of the CSD Regulation (EU) 909/2014 (CSDR), the User Committee advises the Executive Board of the Company on the following topics: 

  • Committee shall advise the Executive Board on key arrangements that impact on its members, including the criteria for accepting issuers or participants in the securities settlement systems and on service level;
  • Committee may submit non-binding opinions to the Executive Board, containing detailed reasons regarding the pricing structures of the securities settlement systems of the Company.

The advice of the Committee shall be independent from any direct influence of the Executive Board.

The Executive Board may seek advice and recommendation from the User Committees with respect to matters which are of relevance for the business of the Company and its relationship with customers, in particular: 

  • Business and marketing strategy;
  • Development of new products; 
  • General market trends and requirements.