Clearstream paints picture of broad decline

Clearstream’s most recently monthly report paints a picture of decline, reflecting overall market developments, the ICSD says. In March 2016, the overall value of assets under custody held on behalf of customers by Clearstream registered a decrease of 4 percent to EUR 13.0 trillion (compared to EUR 13.5 trillion in March 2015).

Securities held as an (ICSD) increased by 1 percent from EUR 7.1 trillion in March 2015 to EUR 7.2 trillion in March 2016. Securities held under custody in the German central securities depository (CSD) fell by 9 percent from EUR 6.4 trillion in March 2015 to EUR 5.8 trillion in March 2016.

For the period year-to-date March 2015, the combined value of assets under custody in the German domestic CSD and global ICSD business dropped by 1 percent compared to the same period last year (YTD March 2016: EUR 13.0 trillion; YTD March 2015: EUR 13.2 trillion).

In March 2016, 3.8 million international (ICSD) settlement transactions were processed, a 16 percent decrease over March 2015 (4.6 million). Of all international transactions, 84 percent were OTC transactions and 16 percent were registered as stock exchange transactions.

On the German domestic market, CSD settlement transactions in March 2016 reached 7.5 million, 19 percent less than in March 2015 (9.3 million). Of these transactions, 61 percent were stock exchange transactions and 39 percent OTC transactions. For the period year-to-date March 2016, the number of settlement transactions (OTC and stock exchange combined) processed for the German domestic CSD and global ICSD business combined decreased by 10 percent compared to the same period last year (YTD March 2016: 33.5 million; YTD March 2015: 37.3 million).

For Global Securities Financing (GSF) services, the monthly average outstanding in March 2016 reached EUR 538.2 billion. The combined services, which include tri-party repo, securities lending and collateral management, collectively experienced a decrease of 18 percent over March 2015. The GSF monthly average outstanding has contracted by 16 percent from the period year-to-date March 2016 (EUR 530.2 billion) to the period year-to-date March 2015.

Investment Fund Services (IFS) processed 0.8 million transactions in March 2016, a 24 percent decrease over March 2015. IFS transactions contracted by 16 percent from 2.7 million processed in the period year-to-date March 2015 to 2.2 million in the period year-to-date March 2016.