Deutsche Börse Group and its post-trade services provider Clearstream, last week celebrated the official inauguration of their new office at Navigation Square in Cork.

Deutsche Börse Group is one of the largest exchange organisations worldwide. It organises markets characterised by integrity, transparency and safety for investors who invest capital and for companies that raise capital – markets on which professional traders buy and sell equities, derivatives and other financial instruments according to clear rules and under strict supervision.

In June of this year, Clearstream had already moved its operations to Navigation Square. The move to the city centre brought together the two sites at Airport Business Park and Eastgate Business Park, under one roof.

In addition to the Group’s funds processing operations and product development activities, the newly renovated space also houses administrative functions. In total, Deutsche Börse Group expects around 600 employees to work in Cork by 2020.

Speaking at the inauguration event last month, Tánaiste Simon Coveney said, "When an international company of Clearstream’s stature decides to significantly expand its operations, it shows the potential that Cork offers for companies such as Clearstream to grow, particularly in terms of talent availability, proven track record and the scale of the technology and financial services sector in the region."

"Our new office reflects our company culture," said David Brosnan, Head of Clearstream Global Funds Operations and the Cork location. "The new central office provides a platform for our dynamic and innovative staff to work and collaborate with each other. With its central location, NSQ1 not only enhances our international reputation as centre of excellence but also attracts the best of talent to our already amazing team."

Source: www.businessworld.ie