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GERMANY - Capital Market Infrastructure Summary

Central Securities Depository
Clearstream Banking

Central Counterparty
Eurex Clearing AG

BIS Model
Model 1

Settlement Cycle
T+2

T2S
Clearstream Banking is set to migrate to T2S in the third wave, scheduled for 12 September 2016. 

Comment
Clearstream Banking acts as the CSD for Equities, ETFs, Government bonds, Corporate bonds, T-bills, Commercial paper, Investment funds, Rights and warrants.

Key terms defined in our glossary:

Central Securities Depository
Central Counterparty
BIS Model 1
Settlement Cycle
TARGET2-Securities (T2S)

 
The above information is written as a general guide only and is subject to change. Please refer to our 'Terms' page for more details.