Clearstream

Clearstream is a financial services company that operates as a central securities depository (CSD) and post-trade infrastructure provider. It is owned by Deutsche Börse Group and supports the settlement, custody, and safekeeping of a wide range of securities and related services worldwide.

The organization operates primarily through two regulated entities: Clearstream Banking S.A. in Luxembourg and Clearstream Banking S.A.S. in France.

Key services include settlement of domestic and cross-border securities, safekeeping, asset servicing, issuer services, collateral management, and securities lending and financing. It operates as an international central securities depository (ICSD) handling cross-border transactions and connects to other CSDs, central banks, and market infrastructures, often participating in TARGET2-Securities and other European settlement platforms.

Clearstream traces its roots to Cedel, established in Luxembourg in the 1970s. It later merged with Deutsche Börse's post-trade operations to form Clearstream International, and in the early 2000s was reorganized into the two current legal entities.

In the European Union, Clearstream operates under the CSD Regulation (CSDR) and is supervised by national regulators—CSSF in Luxembourg and ACPR in France—with overarching oversight by ESMA and the relevant authorities.

Clearstream plays a key role in Europe’s post-trade infrastructure by enabling efficient, secure settlement and custody across markets. It remains a core part of Deutsche Börse Group’s financial-market services.