Cetip, Clearstream consider collateral management deal

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Wednesday, February 17, 2010

Brazilian clearinghouse and settlement deposit firm Cetip and Luxembourg-based Clearstream Banking have signed a non-binding, but exclusive letter of intent to work on collateral management products.

Clearstream, which is part of German transaction service provider Deutsche Börse, and the Brazilian firm, in which several local banks own minority stakes, would aim to partner on strategic, marketing and technological issues, a securities filing from Cetip said.

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