European investment firms Aberdeen Luxembourg, Dresdner Bank Luxembourg and Alliance Capital Management (ACM) have signed up to use Vestima, Clearstream Banking's STP solution for funds processing.
The firms join other new Vestima users Schroder Investment Management, Banque Pictet, Global Asset Management, Bisys Fund Services and European Financial Group who have all become active users of Vestima earlier this year.
Users can access Vestima via three connectivity options, including the interbank Swift network using the new ISO 15022-compliant messages. The other interfaces are an IP Web browser solution, which can be used for manual input, and a host-to-host file transfer solution for high volume customers.
Neil Forrest, general manager transfer agency, JP Morgan (Vestima user group member), comments: “In today's complex European market, Vestima’s ability to provide standardised, secure and flexible investment fund processing is a significant step towards the type of market efficiency that all of Europe should aspire to."