“Asian bond markets have a domestic focus; establishing a regional market remains a challenge”
Denis Noonan, VP, Core Product Development, Clearstream discusses the evolving role of an ICSD and the challenges of operating in Asia. December 02, 2013 | Mobasher KazmiClearstream is a well-known International Central Securities Depository (ICSD) with an established track record of operating across the post-trading global landscape. A subsidiary and post-trade services provider of exchange operator Deutsche Börse, it serves as the principal CSD for Germany as well as for Luxembourg-through a joint venture with its central bank. With a background in issuance, servicing and settlement of securities, Clearstream is looking to strengthen and expand its core offerings in Asia where the ICSD today generates approximately 20 percent of its revenues. Part of the team driving the evolution at Clearstream is Denis Noonan, vice president, Core Product Management, who started his role as a product manager at Clearstream in 2008, just weeks before the Lehman crash. Together with his Global Securities Financing colleagues, Noonan became closely involved in managing and addressing the challenges faced by the ICSD as the global financial crisis unfolded. Since then, one of the main concerns held by market participants has been the availability and quality of collateral posted by counterparties in settlement of trades. Clearstream has seen this as both an opportunity to directly add value to its international clients through prudent collateral management as well as a trigger to create new and innovative solutions in partnerships with other important institutions serving global financial markets. As Noonan explained, “with the global financial crisis, we have seen the disappearance of clean credit lines and a significant increase in tools and methods to manage counterparty risk. As a result the ability to manage collateral... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Asset Management, Trustees and Custodians, Clearing & Settlement, Markets & Exchanges, RmbTrustees Custodians and Depositories,Clearing & Settlement,Markets Exchanges,Rmb, Asset Management, Trustees and Custodians,Clearing & Settlement,Markets & Exchanges,Rmb, Keywords:Clearstream, Denis Noonan, ICSD, Deutsche Borse, Tri-Party Repo, BNY Mellon, T2S Clearstream, Denis Noonan, ICSD, Deutsche Borse, Tri-Party Repo, BNY Mellon, T2S
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