Euroclear sees revenues and collateral surge 18 February 2020Brussels Reporter: Natalie Turner
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Euroclear, the Belgium-based financial services company, has reported a revenue increase of 8 percent for 2019, compared to the year prior, amounting to 鈧�1,435 million.
In its end-of-year report, Euroclear explains that business Income rose by 6 percent to 鈧�1,145 million due to the delivery of its 鈥渟trategic initiatives and benefit of positive market conditions鈥�.
Moreover, its banking and 鈥渙ther income鈥� increased by 13 percent to 鈧�290 million, which Euroclear says was 鈥渂oosted by higher US interest rates in the first half 2019鈥�.
Elsewhere, the firm revealed that its Collateral Highway platform mobilised a yearly average of 鈧�1.3 trillion, up 6 percent on 2018.
The average value of securities held on behalf of Euroclear clients continued to grow up 5 percent 鈧�31.4 trillion in 2019, compared to the 鈧�28.8 trillion in 2018.
At the end of 2019, Euroclear held 鈧�31.4 trillion of assets under custody.
Euroclear says its FundsPlace product continued to attract asset managers and exchange-traded funds issuers with fund assets under custody rising to 鈧�2.4 trillion last year.
Commenting on the results, Lieve Mostrey, CEO of Euroclear, says that 2019 was a record year for the firm.
鈥淟ooking forward, despite headwinds from lower interest rates environment, we continue to invest in customer and product expansion, and to enhance our technology,鈥� she adds. 鈥淏y remaining focused on delivering our strategic objectives, we expect to create further value for all our stakeholders."
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