Clearstream, a wholly owned subsidiary of Deutsche Börse Group, is headquartered in Luxembourg. More than 1,200 employees work in the Kirchberg business and financial centre, mainly in the settlement and custody of securities (post-trading). Clearstream Services, which develops and operates the Group’s IT systems together with colleagues in other locations, is also based in Luxembourg. Further entities located in Luxembourg is LuxCSD. The Luxembourg office certainly embodies Deutsche Börse Group’s international set-up – its employees come from over 50 nations.