CLEARSTREAM SAYS IT HAS IMPROVED ON CREATION

Posted March 13, 2008

FRANKFURT – Clearstream has launched a new generation of Creation, its post-trade processing infrastructure, which processes transactions in real time throughout the full instruction lifecycle during daytime settlement. The new environment now treats all steps of the transaction lifecycle.

According to Clearstream, the improvement of Creation will better support settlement as well as instruction validation, matching, domestic market instruction handling and feedback, instruction sequencing, provisioning, collateral allocation and substitution and customer reporting.

“The unique feature of Cleartsream’s new offering is that it brings the benefits of real-time processing to all aspects of the transaction life cycle,” says Jeffrey Tessler, Chief Executive Officer of Clearstream. “The successful launch of the latest generation of Creation demonstrates Clearstream’s commitment to interoperability and to raising the level of market efficiency.

The improvements to Creation allow users to optimize securities movements and collateral during the daytime processing period that runs from 4:30 a.m. to 6 p.m. daily, Central European Time. Users will no longer have queuing times and the need for credit and collateral will be reduced. Users also will not have any costs to migrate to the updated Creation system, which runs using Clearstream’s Creation Settlement engine.