CC&G: CACEIS Bank Deutschland GCMMar 17 2014 - 18:00
- CACEIS Bank Deutschland becomes the 33rd GCM providing services through CC&G
Cassa di Compensazione e Garanzia (CC&G), a leading provider of post trade services today announces that CACEIS Bank Deutschland has become a General Clearing Member (GCM).
As a GCM CACEIS Bank Deutschland will be able to clear bond trades through CC&G settled via international CSDs.
Paolo Cittadini, CEO of CC&G, said:
“We are delighted that CACEIS Bank Deutschland has chosen CC&G to support its international activities through the provision of safe and efficient clearing services. CC&G continues to expand its international expansion path to meet the needs of its growing international customer base helping them to with over 30 general clearing members now using our services.”
“Particularly in terms of its securities market Italy is one of the most interesting countries for CACEIS Bank Deutschland GmbH. Therefore, we have decided to apply for the General Clearing Membership with CC&G to increase our market coverage for clearing services to seven CCPs”,- said Holger Sepp, Co-Head and Member of the Management Board of CACEIS in Germany- “In the first step we go live with the ICSD-bonds segment and due to client demand we will extend our membership to the shares and bonds segments in the upcoming months”.
CC&G is part of London Stock Exchange Group and offers a wide range of clearing services as well as the elimination of counterparty risk. More than 75 members around the world relay on CC&G for the clearing of their transactions and those of their clients.
For further information, please contact:
+39 0272426 360
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