Clearstream AG â owned by Deutsche BÃ¶rse Group and the leading provider of post-trading services â will soon be deploying the specialist Swiss solution to further strengthen its management of operational risk.
Deutsche BÃ¶rse Group organises the market for stock and securities trading and provides investors, financial institutions and companies access to global capital markets. Its portfolio businesses covers the entire process chain from securities and derivatives trading, clearing, settlement and custody, through to market data and the development and operation of electronic trading systems.
As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 52 domestic markets worldwide. With more than â¬11.3 trillion in assets under custody, Clearstream is one of the worldâs largest settlement and custody firms for domestic and international securities. As a central securities depository (CSD) based in Frankfurt, Clearstream also provides the post-trade infrastructure for the German securities industry.
Avanon develops a cross-industry, standardised, intranet-enabled platform for enterprise risk and compliance management. The modular design and total functional coverage allows for maximum flexibility, enabling customers to tailor the solution to match their specific business requirements. Multiple small, medium and large firms â from banking, insurance and industry already deploy Avanon â and are now now joined by Deutschen BÃ¶rse Group, one of the worldâs largest exchange organisations.
Above all, Clearstream was impressed by the clarity of direction, speed to delivery and transparent costs of the Avanon solution. Avanonâs solution also delivers an ideal platform for further expansion:
âThe modular design and enterprise approach to risk management exactly matches our expectationsâ says Dr. Stefan Look, Head of Group Risk Management at Deutsche BÃ¶rse Group.
One particular challenge is to migrate the comphensive legacy loss event data history in a short period of time. A further key requirement is to seamlessly replicate the pre-existing data collection process, for which Avanon can fortunately draw on similar and considerable experience from its customers Mercedes Benz Bank, Commerzbank and the Swiss PostFinance.
Avanon and Clearstream look forward to the challenges: "Together we can further optimise our risk managementâ, says Dr. Hans-Peter GÃ¼llich, CEO Avanon AG.