Clearstream Banking AG is the main national

central securities depository A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities such as shares or bonds, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily tra ...

(CSD) in

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

. It is a fully-owned subsidiary of the Clearstream Group, itself part of Deutsche Börse Group. As of 2018, it was the world's fourth-largest CSD by value of securities held, only surpassed by Fedwire Securities Service, the

Depository Trust Company Depository Trust Company (DTC), founded in 1973, is a New York City, New York corporation that performs the functions of a central securities depository as part of the US National Market System. DTC annually settles transactions worth hundreds ...

, and

Euroclear Bank Euroclear Bank is the international central securities depository (ICSD) of the Euroclear Group, based in Brussels, Belgium. It is one of the world's two main ICSDs, the other one being Clearstream Banking SA in Luxembourg. As of 2018, it was t ...

Overview

On , the Frankfurter Kassenverein was established to handle the settlement and clearance of securities traded on the

Frankfurt Stock Exchange The Frankfurt Stock Exchange (, former German name: , ''FWB'') is the world's 3rd oldest and 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time). Organisation Located in Frankfurt, ...

following the wartime and post-war disruption. The word ''Kassenverein'' was a reference to a number of pre-war financial institutions that provided market infrastructure services in the German-speaking work, including the and the Wiener Giro- und Cassen-Verein, the latter being described as the oldest CSD. In 1970-71, the Auslandskassenverein (AKV) was formed to act as clearing and settlement agent and international gateway for German banks to various foreign depositories, including but not limited to

Cedel Clearstream Banking SA is one of two world-leading international central securities depositories, the other one being Euroclear Bank. It is a fully-owned subsidiary of the Clearstream Group, itself part of Deutsche Börse Group. History The C ...

in Luxembourg. In December 1989, the ''Kassenverein'' arms of the regional stock exchanges in

Berlin Berlin ( ; ) is the Capital of Germany, capital and largest city of Germany, by both area and List of cities in Germany by population, population. With 3.7 million inhabitants, it has the List of cities in the European Union by population withi ...

, ,

Frankfurt Frankfurt am Main () is the most populous city in the States of Germany, German state of Hesse. Its 773,068 inhabitants as of 2022 make it the List of cities in Germany by population, fifth-most populous city in Germany. Located in the forela ...

Hamburg Hamburg (, ; ), officially the Free and Hanseatic City of Hamburg,. is the List of cities in Germany by population, second-largest city in Germany after Berlin and List of cities in the European Union by population within city limits, 7th-lar ...

, ,

Munich Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...

, and

Stuttgart Stuttgart (; ; Swabian German, Swabian: ; Alemannic German, Alemannic: ; Italian language, Italian: ; ) is the capital city, capital and List of cities in Baden-Württemberg by population, largest city of the States of Germany, German state of ...

merged as a single CSD for all of Germany, branded Deutscher Kassenverein (DKV), henceforth a subsidiary of

Deutsche Börse Deutsche Börse AG (), or the Deutsche Börse Group, is a German multinational corporation that offers a marketplace for organizing the trading of shares and other securities. It is also a transaction services provider, giving companies and inv ...

. In 1996, the AKV was merged into DKV, which was subsequently renamed Deutsche Börse Clearing AG (DBC) in 1997. In 2000, DBC merged with

in Luxembourg, and the merged entity became a fully-owned subsidiary of Deutsche Börse in mid-2002.

References

Banks of Germany Central securities depositories of Europe {{Finance-company-stub

Overview

See also

References