Investment management firm Franklin Templeton and BNP Securities Services are both rolling out Clearstream's fund processing solution Vestima across their Luxembourg operations.
Bill Lockwood, managing director, Franklin Templeton, Luxembourg, says Vestima will significantly help reduce the administrative burdens associated with shareholder operations.
Clearstream, a Deutsche Börse Group Company, says Vestima has over 10,000 funds available on the service and currently covers the majority of the Luxembourg market.