Clearstream creates new bank in Luxembourg
Clearstream, the global post-trading services provider, has created a new bank in Luxembourg dedicated to serving institutional fund investors: Clearstream Fund Centre S.A.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
The new entity operates under a commercial banking licence in Luxembourg. It will be an important cornerstone of Deutsche Börse’s and Clearstream’s Fund Services, the business segment which provides fund execution, distribution and data management.
The new bank Clearstream Fund Centre S.A. will serve Clearstream’s fund execution business Vestima, providing access to more than 230,000 funds in over 50 markets. The entity is regulated under MiFID to support clients to fulfil regulatory fund requirements. Clearstream Fund Centre S.A. will be closely interlinked with Clearstream’s ICSD and CSD businesses, leveraging cross-divisional synergies for its clients.
Philippe Seyll, CEO of Clearstream Fund Centre S.A., said: “It is at the heart of Clearstream’s mission to support the wealth management and banking community with best-in-class execution services, efficient distribution management, state-of-the-art technology and data solutions. The creation of Clearstream Fund Centre S.A. is a strong testimonial to our client dedication as well as to Luxembourg as our home and important financial centre.”