Global securities financing services of Deutsche Börse’s learing and settlement division Clearstream experienced mild growth in average monthly outstanding for July, which the firm has linked to a growing appetite for securities lending in Europe.
The monthly average outstanding for the firm’s global securities financing services reached €575.1 billion in July, a 2% rise year-on-year, but a 2% drop in the combined monthly averages from January to July this year compared to 2012.
Demand for Clearstream’s securities financing services (GSF), which include triparty repo, securities lending and collateral management, is intensifying, the firm said in a statement.
“We continue to see a very strong appetite in the market for all of our risk and liquidity management solutions,” said Stefan Lepp, head of global securities financing for Clearstream, and a member of the firm’s executive board.
“The European Central Bank’s Long-Term Refinancing Operation has given the market access to cheap liquidity which is why the GSF monthly average outstanding are slightly lower than at the beginning of the year.”
“Despite the monetary policy intervention, which is a temporary phenomenon, our outstandings are 2% above July 2012 levels, which shows that we are well on track.”