Clearstream, the settlement and custody business owned by Deutsche Börse, has started discussions with the Australian Stock Exchange (ASX) to develop a new collateral management service for the Australian market. Clearstream will calculate and manage the amount of collateral that participants have to post as guarantee of a trade, adds Financial Times.
ASX’s new service will allow financial market participants to boost their risk management profiles across their trading activities and optimize how they use their collateral holdings. Separately, Luxembourg-based Clearstream will also take over the real-time management of collateral held in Austraclear, the sole central securities depository in Australia, and Chess, a settlement house.
Click here for the release from ASX Group.
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