Friday, May 19, 2006
Clearstream To Offer Settlement In Russian Domestic Equities
Clearstream To Offer Settlement In Russian Domestic Equities
Clearstream via Deutsche Bank Moscow is the first International Central Securities Depositary (ICSD) to offer settlement in Russian equities. The link will initially include over 50 of the most liquid Russian stocks, including Gazprom, as well as Ministry of Finance bonds. As of May 18, Clearstream customers will be able to settle domestic free of payment transactions via Deutsche Bank Moscow, Clearstream’s depository in Russia. The Russian market has seen exponential growth in recent years. The Moscow Interbank Currency Exchange (MICEX) has risen by 121% and the Russian Trading System (RTS) is up by 117% over the last 12 months with market capitalization up from approximately USD248 billion one year ago to approximately USD630 billion now. The development of this new link demonstrates Clearstream’s commitment to facilitate market openness and to create solutions in response to customer and market needs. Jeffrey Tessler, CEO of Clearstream said:” Clearstream is pleased to be the first ICSD to offer settlement in Russian equities. We have been working with the Russian authorities in order to deliver this new link which further widens the international nature of Clearstream’s business.” Roger Harrold, Global Head of Domestic Custody Services at Deutsche Bank, said: “We are very pleased to have been chosen to support Clearstream’s entry into the Russian market. Over the last two years our client base in Russia has grown steadily, and we believe this appointment by Clearstream demonstrates the quality of our service offering in this market.”
Clearstream via Deutsche Bank Moscow is the first International Central Securities Depositary (ICSD) to offer settlement in Russian equities. The link will initially include over 50 of the most liquid Russian stocks, including Gazprom, as well as Ministry of Finance bonds. As of May 18, Clearstream customers will be able to settle domestic free of payment transactions via Deutsche Bank Moscow, Clearstream’s depository in Russia. The Russian market has seen exponential growth in recent years. The Moscow Interbank Currency Exchange (MICEX) has risen by 121% and the Russian Trading System (RTS) is up by 117% over the last 12 months with market capitalization up from approximately USD248 billion one year ago to approximately USD630 billion now. The development of this new link demonstrates Clearstream’s commitment to facilitate market openness and to create solutions in response to customer and market needs. Jeffrey Tessler, CEO of Clearstream said:” Clearstream is pleased to be the first ICSD to offer settlement in Russian equities. We have been working with the Russian authorities in order to deliver this new link which further widens the international nature of Clearstream’s business.” Roger Harrold, Global Head of Domestic Custody Services at Deutsche Bank, said: “We are very pleased to have been chosen to support Clearstream’s entry into the Russian market. Over the last two years our client base in Russia has grown steadily, and we believe this appointment by Clearstream demonstrates the quality of our service offering in this market.”
