Clearstream Readies New Securities Lending Service
Clearstream announced the debut of ASLplus, a new securities lending service developed with Citigroup Corporate, Investment Banking and UBS. This enables lenders of securities to boost the revenues they receive from their portfolios by introducing Clearstream as the principal and single borrower, according to Clearstream's release.
ASLplus, which offers access to the wholesale fixed-income trading market -- which is driven by demands for strategic lending -- will be available as early as October. It will result in increased settlement efficiency while providing revenue opportunities for users, said the release. Lenders will benefit from increased portfolio yield and waived custody fees on lent positions.
Clearstream will act as collateral agent, therefore reducing the risks for users as all loans are fully collateralized and are monitored daily. Clearstream's Triparty Collateral Management Services will automatically select and collateralize all ASLplus loans and further allow multiple substitutions and daily margining. Small-size positions will be consolidated into larger lending positions, and lenders will need only one agreement to secure a credit line against Clearstream, thus making it easier to access and use a wider market.
Part of Deutsche Borse Group, Clearstream is an international clearing and settlement organization offering comprehensive services for domestic and cross-border equities, bonds and investment funds.
GL Trade Launches UBIX Publisher for Accessing Back-Office Information
GL Trade released UBIX Publisher, a new module that automatically uploads data from UBIX, its own straight-through processing system for listed-derivatives, and any other back-office system. In addition, UBIX Publisher can distribute information in a standardized format to UBIX or non-UBIX clearing environments.
UBIX Publisher end users will have access to all UBIX functions and features including [email protected], which allows them to access their clearing information. Users also can access the public database views, while continuing to utilize and receive data outputs from other applications.
Andrew Hobbs, head of UBIX business development, points out in the release that the new online reporting module leverages a key feature in UBIX's underlying database technology. "... It delivers a single portal for combined information flows, statements and reports from multiple systems as well as a standardized Web portal for clearing information," Hobbs stated in the release.
GL Trade contends the new module will benefit customers in terms of usability and efficiency, especially those in multi-platform/operation environments across asset classes.
GL Trade, headquartered in Paris, is a provider of global electronic trading, clearing and settlement solutions. UBIX is GL Trade's STP solution for listed derivatives on all major world financial markets. It offers post-execution risk management, back-office processing and Internet access for end users, according to the release.