Clearstream Spotlight

New partnership for OTC Centralised derivatives reporting

Clearstream has launched a new Commerzbank will also give Clearstream supports customers in partnership with Commerzbank which Clearstream customers access to its complying with upcoming EMIR offers a full suite of services for the collateral transformation services provisions which require the reporting entire lifecycle of both cleared and which complement Clearstream’s of derivative trades to a registry. uncleared OTC derivatives. securities financing products, such as triparty repo, securities borrowing Clearstream and Iberclear (the Spanish Market participants are increasingly and lending as well as bilateral repo central securities depository) have set looking for services which will and automated services to achieve up REGIS-TR, the European trade help them meet new regulatory enhanced portfolio yields. In addition, repository, which is open to all financial requirements under EMIR and customers can now benefit from and non-financial institutions and MiFID II/MiFIR. These regulations services for offers a comprehensive service for all aim at reducing the risk associated uncleared OTC derivatives. derivative contracts. with derivative trading by requiring all standard derivatives to be cleared In other words, TradeCycle enhances In addition to collecting and managing and collateralised. If trades are Clearstream’s offering for both details on derivative transactions, unsuitable for by a CCP, they cleared and uncleared OTC derivatives REGIS-TR will eventually provide must at least be registered in a trade in three ways: it extends our service customers with a full-blown reporting repository. suite to the execution and clearing hub. Using REGIS-TR as a central point part of the trade lifecycle and adds for all derivative reporting will result in Clearstream and Commerzbank have collateral transformation services. lower connectivity and IT costs as well now joined forces to help customers In addition, our collateral management as time savings. meet this regulatory challenge. services now also include uncleared The comprehensive service suite OTC derivatives. offered by the new TradeCycle partnership covers the entire lifecycle TradeCycle is a unique partnership of derivatives – in addition to our usual which combines the expertise of a , custody, asset servicing market infrastructure provider with and collateral management services that of an investment bank, bringing it will also address client clearing customers the best of both worlds. TradeCycle

requirements. The services are fully flexible thanks Delivering integrated solutions to the modular setup which lets for OTC derivatives This means that from now on, customers tailor the services to their Clearstream customers can use individual business needs. Commerzbank as a clearing agent to clear their trades since Commerzbank In addition, our joint service overcomes is a direct clearing member in the market fragmentation by providing major clearing houses. By choosing a single point of access for all their Commerzbank as their clearing collateral needs. Customers will agent, our customers will benefit from benefit from greater efficiency and streamlined, seamless collateral reduced operational costs thanks to management solutions for the entire our fully integrated offering – a true lifecycle of their trade. one-stop-shop solution.

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