In March 2022, Euronext Securities Copenhagen and Clearstream announced that they would expand their long-term cooperation by connecting Clearstream directly to the Danish market. One year later, the two companies can look back on a successful migration and collaboration.
With the migration – successfully completed in July 2022 – Clearstream added the Danish market to its global Investor-CSD solution, offering its clients direct access to the domestic market via their existing accounts. Since that time, the Assets under Custody between Clearstream and Euronext Securities Copenhagen has increased by 35%. Euronext Securities has also expanded the range of services it offers to Clearstream, such as specific custody events and tax services, and added other direct access customers during that time.
The successful, incident-free migration was an important milestone in our expanded cooperation, and it’s very rewarding to look back over a year with increased volume and stable operation.
States Niels Hjort Rotendahl, CEO at Euronext Securities Copenhagen.
We’ve also seen an increase over the past year in the demand for new services from our customers who want to access the market directly. This fits the trend that we see developing across the European market.
Dirk Loscher, Head of Custody & Investor Solutions at Clearstream, credits the good cooperation between the two companies as a key success factor.
We’ve worked closely with Euronext Securities Copenhagen over the past year to ensure a smooth and successful migration for all of our clients. We are looking forward to continuing to expand Clearstream’s European footprint with our local partners to ensure maximum efficiency and best client experience for the investor and asset servicing community.