Welcome to Clearstream. Part of Deutsche Börse Group

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LuxClear

In addition to its Luxembourg based international settlement and custody services, Clearstream also operates LuxClear, the Grand Duchy's Central Securities Depository (CSD). LuxClear offers all the securities services required to link the Central Bank of Luxembourg to both Luxembourg-domiciled banks and foreign banks according to the CCBM (Correspondent Central Banking Model).

In its role as LuxClear, Clearstream has been formally recognised by the European Central Bank (ECB) as a Securities Settlement System (SSS) able to meet established standards for monetary policy operations.

The following services are available through a standard Clearstream Banking account:

  • Transfer of securities for monetary policy operations.

  • Collateral pledges for TARGET payments.

  • New issues administration for ECB debt in the Luxembourg market

  • Collateralisation

A financial institution established in Luxembourg may obtain funds from the Central Bank of Luxembourg (CBL) provided that the institution has sufficient collateral there. Securities serving as collateral can be transferred to CBL through the national system, or on a cross-border basis as follows:

  • The Luxembourg-based financial institution requests Clearstream Banking, the operator of LuxClear, to transfer the eligible securities in book-entry form to the account of CBL. The Central Bank will make credit available or execute the payment immediately following notification by Clearstream Banking that the collateral had been transferred. The issues that so far are eligible as collateral with CBL have been published by the European Central Bank on their Internet site www.ecb.int under the heading “MFI’s and Eligible Assets”.

  • Luxembourg-based institutions that want to use collateral on a cross-border basis have to instruct their custodian (e.g. Clearstream Banking) to transfer the securities to the Central Bank of that country via the national securities settlement system. Upon receipt of the securities, the Central Bank of that country will notify CBL, which will make credit available or release the payments to the financial institution.