Welcome to the 9 th CEE Summit. 18 and 19 April 2013 Prague, Czech Republic

Transcription

1 Welcome to the 9 th CEE Summit 18 and 19 April 2013 Prague, Czech Republic

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3 1. Where do you see the growth in debt capital markets in the CEE region coming from, between now and 2020: 1Will it be in domestic issuance? 2Will it be in international issuance? 3Or no growth at all? 3

4 2. If there will be growth in the CEE region debt capital markets, will this be by: 1 Financial institutions? 2 Corporates? 3Government? 4

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6 LOVEMARKS CLEARSTREAM, PRAGUE, APRIL 18 th, 2013

7 LOYALTY BEYOND REASON

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10 Brands Products Fads

11 HIGH RESPECT This is good value but I could live without it if I had to. I will make sacrifices to keep this. LOW LOVE HIGH LOVE It s not really what I want, but it s cheap. This is fun, but do I really need it.

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13 VOLUME INCREASE HIGH RESPECT BRANDS Purchase Intent: +66% Usage frequency x5 LOW LOVE HIGH LOVE PRODUCTS Purchase Intent: +238% Usage frequency x23 FADS Purchase Intent: +33% Usage frequency x3 LOW RESPECT

14 REASON LEADS TO CONCLUSIONS. EMOTION LEADS TO ACTION.

15 MYSTERY

16 CADBURY GORILLA

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18 INTIMACY

19 NZ TELECOM FATHER AND SON

20 BGH DADS IN BRIEFS

21 SENSUALITY

22 JC PENNEY MOTHER S DAY

23 TIDE INTERVIEW

24 THE JOURNEY TO A LOVEMARK

25 FIVE STEPS TO GET THERE

26 CUSTOMER UNDERSTANDING

27 ORGANISING IDEA

28 EMOTIONAL CONNECTIONS

29 PHONE YOUR MUM

30 BE REALLY SPECIFIC

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33 THANK YOU

34 Client: Title: My company/brand is currently generating 1 mainly respect 2 mainly love 3 respect and love amongst its clients. 34

35 Client: Title: Compared to competition my company/brand is doing 1. Better 2. About the same 3. Worse in generating loyalty beyond reason. 35

36 Client: Title: Communication about my company/brand involves 1. Mystery 2. Intimacy 3. Sensuality 4. None of the above 36

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38 Clearstream s Global Liquidity Hub Excellence in Collateral Management Update, Trends & Developments Carsten Hiller Sales Manager, Global Securities Financing

39 We have a history of creating opportunities for our clients Automated Securities Lending First triparty repo service in Europe AutoAllocation/ AutoSubstitutionmodule Collateral allocation to the Bundesbank Collateral allocation to the Federal Reserve Strategic Securities Lending KAGplus EuroGC Pooling ASLplus, collateral re-use GC Pooling International The Global Liquidity Hub was launched in Collateral allocation to the BCL Equities and Funds as Collateral Liquidity Hub GO with Cetip Liquidity Hub Connect Facts and Figures: - Part of Deutsche Börse Group - Securities lending, repo and collateral management - Cash, fixed income, equities and funds - Over 500 participants - EUR 650 billion peak outstandings in Dedicated GSF sales and operations 39

40 Clearstream s Global Liquidity Hub Excellence in Collateral Management The Global Liquidity Hub ASL, ASLplus & Loan Services Intra-Group Activities Collateral Re-Use Liquidity Hub GO Liquidity Hub Connect Classical Triparty Services Central Bank Liquidity GC Pooling & Platforms CCP s & OTC Derivatives Structured Products & Pledges Our proposal to you: A unique collateral management value proposition designed specifically for you. Maximize access to liquidity and optimize your use of collateral pools across multiple locations. Dedicated specialist sales team to build relationships Bespoke legal and operational support as needed. 40

41 Collateral and Liquidity Management has now become a global priority Automated solutions Counterparty Diversification Optimisation Global Liquidity Hub New collateral users Increased collateral need Changing regulations are driving collateral management practice worldwide - Access to cash liquidity and new counterparties are key - Central counterparties are of ever increasing importance - Mobilizing all available inventory is paramount - Optimization and efficient collateral reuse are essential 41

42 Clearstream s Global Liquidity Hub Our strategic roadmap for 2013 and beyond Cash Liquidity & Central Banks Securities Lending & Borrowing Collateral Optimization and Re-Use Margin Collateral & CCP s Domestic Inventory Management Buy-side Services - Cash Liquidity & Central Banks : access to cash financing in central and commercial bank money. - Margin Collateral & Central Counterparties : cover margin requirements for centrally cleared and OTC transactions. - Securities Lending : support collateral transformation, upgrade or asset swap transactions - Domestic Inventory Management : To facilitate the sourcing of collateral held with domestic CSD s or agent banks and sub-custodians. - Collateral Optimization and Re-Use : Providing visibility over inventory and maximizing its usage. - Buy-side services : Tailored services for corporates, non-financials and their custodians. 42

43 Clearstream s Global Liquidity Hub Our products and services Collateral Management Triparty Collateral Re-Use Credit Support Structured Trades Pledge Central Bank Access CCP margin coverage OTC Derivatives Our clients, your counterparties Securities Lending Triparty Securities Lending ASLplus KAGplus Repo Triparty Repo GC Pooling (Eurex) GC (LCH.Clearnet Ltd) A unique combination, providing one of the safest collateral and liquidity management solutions in the world 43

44 Clearstream s Global Liquidity Hub Cash Liquidity and Central Banks Central Banks Customised Baskets Standardised Baskets - Lodge collateral to support central bank liquidity at the Bundesbank, BCL and the Federal Reserve Bank of New York. - Many central banks such as DKNB and HKMA are also active triparty repo counterparties - Access a wide range of traditional repo counterparties including state agencies, supra-nationals, commercial banks, private banks, insurance companies, asset managers and corporates. - Use our marriage broking service to access new counterparts - Access centrally cleared standardized liquidity baskets via Eurex s EuroGC Pooling platform or LCH.Clearnet s GC baskets. - Extended o/n trading in EuroGC Pooling to be introduced - Access to 360T, Bloomberg or other LH Collect venues Key Features - Multi-currency options, fixed / variable rate support and bespoke interest terms available - Ability to use fixed income, equities, funds and more 44

45 Maintaining access to both central bank and commercial bank liquidity is critical Sub-prime crisis Post-Lehman Eurozone crisis Classical triparty repo volumes are increasing overall as new counterparts enter the arena seeking yield Allocations to central banks have reduced slightly but remain substantial in light of regulatory pressure GC repo through CCP s continues to grow dramatically

46 Clearstream s Global Liquidity Hub Margin Collateral & CCP s CCP s Initial Margin - Cover margin collateral requirements with EMCF, Eurex Clearing, LCH.Clearnet Ltd and Oslo Clearing. - Clearstream also supports CCP-Interoperability project for EMCF, EuroCCP, LCH.Clearnet Ltd and X-Clear. - Quad-party and other client segregation options under discussion. - Ability to lodge collateral to cover initial margin (IM) or independent amount (IA) requirements with any counterparty - Full triparty collateral management service (TCMS) including daily valuation services, eligibility screening and margin calls. - Additional triparty pledge agreement service (TPSA) for simple third-party escrow service without collateral management option. - Service can also be tailored for structured products or SPV s. Key Features - Available for both listed and OTC derivatives - Third-party collateral valuation options also available - Luxembourg law allows full ring-fencing of financial collateral 46

47 Clearstream s Global Liquidity Hub Securities Lending & Borrowing Proprietary services - Automated securities lending (ASL) for fails borrowing - Longer-term, strategic securities borrowing (ASLplus) via our dedicated desk s in London and Singapore. - Borrowers can also connect to ASLplus via Bondlend - In Frankfurt, our KAGplus service is tailored to suit the needs of KAG s and their trustees / custodians. Third-party services Key Features - Access to third-party securities lending programmes (agency and principal) - A variety of service levels depending on whether Clearstream is required to settle the lending principal (TSLS1), provide loan valuation services (TSLS2) or simply value collateral against an independent loan book valuation (TCMS) - Clearstream acts as principal in ASLplus. Agency services as well as lending CCP (with Eurex) under review - Full straight-through processing solutions available for all services 47

48 Clearstream s Global Liquidity Hub Buy-side Services GC Pooling Select Corporates Custodian Access Key Features - A new segment within Eurex s GC Pooling product specifically designed for corporates to launch in Disclosed pre-trading phase, anonymous post-trading process - Allows banks to maintain relationships with key corporate clients - Support reverse repo under standardized, multilateral Clearstream Repurchase Conditions (CRC s) - CRC s designed specifically to support triparty repo transactions - Ability for corporates to re-use collateral to cover OTC derivative requirements with dealers, clearing members or CCP s - Support for third-party custodian and trustee services under our Transaction Bank Agreement framework - Additional power of attorney options also available - Ability to use both customized and standardized basket options - Partnership approach designed to attract buy-side institutions and custodians / trustees to the Global Liquidity Hub. 48

49 Clearstream s Global Liquidity Hub Domestic Inventory Management Domestic Market Access Liquidity Hub GO - Clearstream offers access to 53 domestic markets with near-time interoperability available. - Our collateral management partnerships are with the following local infrastructure providers : CETIP ASX STRATE CDS Iberclear Liquidity Hub Connect Key Features - Our collateral management partnerships with local sub-custodians and agent banks : BPSS and Citi confirmed, others to follow. - Both initial pilot markets (BE, FR, DE, NL, IT) and subsequent markets (ES, JP, US + more) under review. - Other partners also in negotiation with Clearstream. - Ability to use all eligible domestic asset types - Different domestic and international outsourcing options - LH GO and Connect will operate in real time, in local hours. 49

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51 Panel discussion Global Securities Financing with a Focus on Central & Eastern Europe

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