Clearstream and Deutsche Bank Open Russian Market
Clearstream has announced the settlement of its first domestic government bond contract in Russia, through access provided by Deutsche Bank.
Made possible by changes in local securities market regulation, Clearstream's clients can now safekeep Russian government bonds, as well as equities. The company, an international central securities depositary (ICSD), has maintained an active sub-custody link to the Russian market since 2006.
"Clearstream was the first ICSD to establish a service for Russian equities," says Mark Gem, member of the executive board and head of business management at Clearstream. "We have now again demonstrated our ongoing commitment to the market and the region. The fact that rouble-denominated bonds are eligible for triparty collateral use shows that we are taking a holistic approach to the evolution of the Russian bond market. We will continue to implement the positive market developments in Russia that will be phased in during the course of 2012."
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