CLEARSTREAM, an international central securities depository with headquarters in Luxembourg, has been operating in Asia for the past 15 years.
During that time, it has, on average, grown 20 per cent a year in terms of profitability and assets under custody. Last year, it grew by 18 per cent, according to Philippe Metoudi, director for the Asia and Middle East region.
Mr Metoudi said that growth in the region was unstoppable, particularly with the recovery of Asia's economy and the liberalisation of the mainland's financial sector.
'I am a big believer in Asia. The potential is absolutely huge and untapped,' he said.
Like many other international companies, Clearstream is eyeing business in China. At the beginning of this month, it signed a memorandum of understanding with China Securities Depository and Clearing Corporation, or Chinaclear - the securities depository for the mainland's capital markets - to explore the potential for delivering improved post-trade services to China's securities market.
He said the agreement meant that both parties would enter into detailed talks and share expertise on clearing, settlement and custody operations. The talks would also include 'exploring initiatives or operational linkage to deliver a wider range of services in the local market'.
He added, however, that it was too early to predict what type of joint venture or business initiative Clearstream would eventually establish.