Clearstream, which is the settlement arm of the German stock exchange Deutsche Borse has said it is planning to spend _ 15 million on its Dublin operations.

Clearstream, which is one of the leading biggest centres for the administration of alternative investments in Europe, will create several jobs in the Irish capital. The company has already hired 15 people and it would employ a further 100 in the coming future.

Clearstream has included five funds for the service and it will provide processing services for complex trade deals in various asset classes. According to estimates, the total asset under management under funds in Ireland is about _941 billion. The centre in Dublin will help manage after-trade operations of several global hedge funds in Ireland.

Company's 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."

The Deutsche Borse is a leading exchange organization in the world and the Irish Stock Exchange reply's on Deutsche Borse's market trading technology called Xetra for its operations.