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UBS’ decision to consolidate the majority of its securities custody, settlement, and financing business at Clearstream as primary International Central Securities Depository (ICSD) follows an intensive 18-month assessment. The review included the global securities business of UBS’ Investment Bank and Wealth Management. The process was inspired by UBS’ goal to realise front to back synergies between its Investment Bank and Wealth Management businesses, whilst integrating these operationally into their recently formed Group Operations structure and achieving further scale benefits. Among the key decision criteria were strategic fit, flow consolidation and global securities financing services including Clearstream’s Global Liquidity Hub for integrated securities lending, borrowing and...
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