Glossary

Clearstream

is an international clearing system located in Europe, which provides storage, clearing and settlement of transactions with international securities; it was established in 2000 as a result of a merge of Cedel and Clearinghouse Deutsche Boerse Clearing; since July 2002 it has completely come under management of Deutsche Boerse AG. The system comprises three branches: Clearstream Banking Frankfurt, Clearstream Banking Luxembourg and Clearstream Services.
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