Clearstream

Clearstream or the Clearstream Group is the central securities depository arm of the Deutsche Börse Group. It provides settlement and custody as well as other related services for securities across all asset classes. Its subsidiary in Luxembourg, Clearstream Banking SA, is one of two world-leading International central securities depositories (ICSDs), the other one being Euroclear Bank. Both the main German national CSD, Clearstream Europe AG, and the national CSD of Luxembourg, LuxCSD, are also part of Clearstream. Clearstream Banking AG and Clearstream Banking SA are held via intermediate holding company Clearstream Holding AG. As of 2017, Clearstream had around 2,500 customers in 110 countries. The name "Clearstream" is often misinterpreted as indicating a clearing activity of the Clearstream Group, which is not the case as the clearing arm of Deutsche Börse is a separate entity, Eurex Clearing. This confusion comes from the name originating in a bygone era when securities clearing and settlement were often viewed as a single activity.