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Clearstream Banking SA
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 Centrale de Livraison de Valeurs Mobilières (), generally referred to as Cedel, was established on , by 66 of the world's major financial institutions as a clearing organisation whose objective was to minimise risk in the settlement of cross-border securities trading, particularly in the growing Eurobond market. It was a direct response to the creation a few years earlier of the Euroclear System by American bank Morgan Guaranty in Brussels. At least initially, Euroclear was viewed as largely aligned with buy side interests whereas Cedel was closer to the sell side. In 1995, a new corporate structure was introduced, establishing a parent company, Cedel International, while Cedel in Luxembourg was granted a banking license. In 1997, a ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luxembourg Clearstream
Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe. It is bordered by Belgium to the west and north, Germany to the east, and France on the south. Its capital and most populous city, Luxembourg City, is one of Institutional seats of the European Union, the four institutional seats of the European Union and hosts several European Union, EU institutions, notably the Court of Justice of the European Union, the highest judicial authority in the EU. As part of the Low Countries, Luxembourg has Benelux, close historic, political, and cultural ties to Belgium and the Netherlands. Culture of Luxembourg, Luxembourg's culture, people, and Languages of Luxembourg, languages are greatly influenced by France and Germany: Luxembourgish, a Germanic language, is the only recognized national language of the Luxembourgers, Luxembourgish people and of the Grand Duchy of Luxembourg; French is the sole language for legislation; and both languages al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 investors access to global capital markets. It is a joint stock company and was founded in 1992, with headquarters in Frankfurt. On 1 October 2014, Deutsche Börse AG became the 14th announced member of the United Nations Sustainable Stock Exchanges initiative. It is the third-largest stock market in Europe by market cap after Euronext Paris and the London Stock Exchange. On 23 August 2023, the company formed EuroCTP as a joint venture with 13 other bourses, to provide a consolidated tape for the European Union, as part of the Capital Markets Union proposed by the European Commission. Company More than 3,200 employees service customers in Europe, the United States, and Asia. Deutsche Börse has locations in Germany, Luxembourg, Switzerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Securities Depositories Association
European Central Securities Depositories Association (ECSDA) is the official trade association for the Central Securities Depository industry in Europe. The association provides a forum for Central Securities Depositories (CSDs) to exchange views and take forward projects of mutual interest. It aims to promote a constructive dialogue between the CSD community, European and Global public authorities and other stakeholders aiming at contributing to an efficient and risk-averse infrastructure for financial markets. It is one of five regional CSD associations oWorld Forum of CSDs History The history of the ECSDA dates back to the early 1990s, when CSD chief executives started to meet on a regular basis to exchange best practices and prepare for the adoption of the euro. The idea of formalising these contacts in an association emerged in 1995 at a meeting taking place at the European Monetary Institute in Frankfurt. The association was established in November 1997 with the signature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Settlement Depository
The National Settlement Depository (NSD), headquartered in Moscow, is a Russian non-bank financial institution and central securities depository (CSD). It provides depository, settlement (bank account), and related services to financial market entities. Its services cover both securities listed in Russia's 2011 Federal Law "On the Central Securities Depository", and other Russian and foreign equity and debt securities. NSD is the CSD of the Russian Federation, and was assigned CSD status by the Russian Federal Financial Markets Service in 2012. It is the largest securities depository in Russia by market value of equity and debt securities held in custody, which in June 2022 were 70 trillion roubles ($1.12 trillion). It is a member of the Moscow Exchange Group. In March 2022, in the wake of the 2022 Russian invasion of Ukraine, NSD's accounts were blocked and frozen at international CSDs Euroclear Bank and Clearstream Banking SA (CSDs which together held €50tn of assets on behalf o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2022 Russian Invasion Of Ukraine
On 24 February 2022, , starting the largest and deadliest war in Europe since World War II, in a major escalation of the Russo-Ukrainian War, conflict between the two countries which began in 2014. The fighting has caused hundreds of thousands of Casualties of the Russo-Ukrainian War, military casualties and tens of thousands of Ukrainian Attacks on civilians in the Russian invasion of Ukraine, civilian casualties. As of 2025, Russian troops Russian-occupied territories of Ukraine, occupy about 20% of Ukraine. From a population of 41 million, about 8 million Ukrainians had been internally displaced and more than 8.2 million Ukrainian refugee crisis, had fled the country by April 2023, creating Europe's List of largest refugee crises, largest refugee crisis since World War II. In late 2021, Russia Prelude to the Russian invasion of Ukraine, massed troops near Ukraine's borders and December 2021 Russian ultimatum to NATO, issued demands to the Western world, West i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2007 French Presidential Election
Presidential elections were held in France on 21 and 22 April 2007 to elect the successor to Jacques Chirac as president of France (and ''ex officio'' Co-Prince of Andorra) for a five-year term. As no candidate received a majority of the vote, a second round was held on 5 and 6 May 2007 between the two leading candidates, Nicolas Sarkozy and Ségolène Royal. Sarkozy was elected with 53% of the vote. Sarkozy and Royal both represented a generational change. Both main candidates were born after World War II, along with the first to have seen adulthood under the Fifth Republic, and the first not to have been in politics under Charles de Gaulle. The election result has been interpreted as an example of center squeeze, a kind of spoiler effect common to the plurality-rule family of voting rules, since Sarkozy, a conservative, and Royal, a socialist, eliminated moderate liberal François Bayrou in the first round, despite polls showing a majority of voters preferred Bayrou i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sicovam
Euroclear France is the main central securities depository (CSD) in France. It is a fully-owned subsidiary of the Euroclear Group. Overview In 1941, the Vichy regime created the Caisse Centrale des Dépôts et Virements de Titres (CCDVT, ) with the intent of being able to track the ownership of French equities in the context of German military administration in occupied France during World War II, German occupation of France. Its inspiration was the Kassenverein system which had successfully operated in Germany for several decades. Deposit of shares at the CCDVT was made mandatory by subsequent Vichy legislation of . In the postwar period following the liberation of France, the deposit mandate was deemed harmful to civil liberties and lifted by legislation of and executive order of which established a replacement entity to the CCDVT, named the Société Interprofessionnelle de COmpensation des VAleurs Mobilières (), abbreviated as SICOVAM. In practice, the vast majority of s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Börse Clearing
Clearstream Banking AG is the main national central securities depository (CSD) in Germany. 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, and Euroclear Bank. Overview On , the Frankfurter Kassenverein was established to handle the settlement and clearance of securities traded on the Frankfurt Stock Exchange 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sell Side
Sell side is a term used in the financial services industry to mean providing services to sell securities. Firms or institutions on this side include investment banks, brokerages and market makers, who facilitate offering securities to investors, conducting research and creating financial products. The three main markets for this selling are the stock, bond, and foreign exchange market. It is a general term that indicates a firm that sells investment services to asset management firms, typically referred to as the buy side, or corporate entities. The sell side and the buy side work hand in hand and each side could not exist without the other. These services encompass a broad range of activities, including broking/dealing, investment banking, advisory functions, and investment research. Use In the capacity of a broker-dealer, "sell side" refers to firms that take orders from buy side firms and then "work" the orders. This is typically achieved by splitting them into smaller ord ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Securities Depositories
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 transferred through a book entry rather than by a transfer of physical certificates. This allows brokers and financial companies to hold their securities at one location where they can be available for clearing and settlement. In recent decades this has usually been done electronically, making it much faster and easier than was traditionally the case where physical certificates had to be exchanged after a trade had been completed. In some cases these organizations also carry out centralized comparison and transaction processing such as clearing and settlement of securities transfers, securities pledges, and securities freezes. In modern corporate debt markets, investors achieve collateralization through CSDs. The CSDs operate as trustees fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buy Side
Buy-side is a term used in investment banking to refer to advising institutions concerned with buying investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, hedge funds, and pension funds are the most common types of buy side entities. In sales and trading, the split between the buy side and sell side should be viewed from the perspective of securities exchange services. The investing community must use those services to trade securities. The "Buy Side" are the buyers of those services; the "Sell Side", also called "prime brokers", are the sellers of those services. Sell side brokerages are registered members of a stock exchange, and are required to be market makers in a given security. Buy side firms usually take speculative positions or make relative value trades. Buy side firms participate in a smaller number of overall transactions, and aim to profit from market movements and accruals rather than through risk management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brussels
Brussels, officially the Brussels-Capital Region, (All text and all but one graphic show the English name as Brussels-Capital Region.) is a Communities, regions and language areas of Belgium#Regions, region of Belgium comprising #Municipalities, 19 municipalities, including the City of Brussels, which is the capital of Belgium. The Brussels-Capital Region is located in the central portion of the country. It is a part of both the French Community of Belgium and the Flemish Community, and is separate from the Flemish Region (Flanders), within which it forms an enclave, and the Walloon Region (Wallonia), located less than to the south. Brussels grew from a small rural settlement on the river Senne (river), Senne to become an important city-region in Europe. Since the end of the Second World War, it has been a major centre for international politics and home to numerous international organisations, politicians, Diplomacy, diplomats and civil servants. Brussels is the ''de facto' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
