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employment

UP to 100 Dublin jobs are due to come online at investment administration group Clearstream.

The settlement arm of the German stock exchange Deutsche Borse, Clearstream plans on spending €15m on its Dublin operations.

Clearstream is one of Europe's biggest centres for the administration of alternative investments.

The investment has seen 15 people already hired by the company and Clearstream said it has potential to create more than 100 new jobs over time.



cash

Clearstream's new Dublin operation will target the after-trade operations of international hedge funds based in Ireland.

The Deutsche Borse is one of the largest exchange organisations in the world and the Irish Stock Exchange uses its cash market trading technology Xetra.

Chief executive Jeffrey Tessler said: "Clearstream selected Ireland for this investment as a result of the country's excellent reputation as a domicile and servicing centre for the hedge funds industry on top on the excellent talent pool for this particular industry."

IDA Ireland's chief executive Barry O'Leary noted that Ireland has developed an excellent reputation globally as both a funds domicile and funds servicing centre with more than 40pc of all global alternative investment funds serviced from Ireland.


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