The Deutsche Börse Group evaluates and prepares the steps to reduce the complexity of regulators and increase efficiency. This specifically concerns the reassessment of the banking licenses of Eurex Clearing AG and Clearstream Banking AG.
EUREX CLEARING AG intends to make use of revised EUROSYSTEM credit facility for CCPS. The installation of the CCP is aimed at providing access to the central bank’s liquidity during market conditions.
Based on the ECB’s announcement and is still subject to the final decision and terms of the ECB that grant access to the CCPs to the special overnight stay, Eurex Clearing has begun to prepare for access to the CCP installation and refund its banking permit, which will no longer be required. The new setting will have no effect on the state of Eurex Clearing AG as an authorized CCP under EMIR.
In addition, ClearsStream Banking AG will be able to focus on its basic activities as a Central Mobile Storage (CSD) for new issuance services, storage, asset service and settlement resulting from the regulatory changes brought about by the modifications made to CSD (CSDR) regulation. On this background, but subject to certain operational requirements and approval by the competent authorities for the new establishment, Clearstream Banking AG, the German CSD, also intends to return its bank license.
ClearsStream Banking SA, ICSD, which has been licensed Luxembourg, will continue to use the CRR license (Capital of Requirement Regulation) for the settlements and the operation of commercial banks’ CSD settlements as the Group’s service that follows the CSDR Refit.
Stephan Leithner, Managing Director of Deutsche Börse Group, commented:
“As a full -time financial market infrastructure group, we are constantly seeking opportunities to reduce regulatory complexity and increase efficiency. This is beneficial not only to our customers and shareholders, but also for the wider financial ecosystems. Procedures for our customers, while at the same time simplifying our customers and at the same time.