SIX chooses Clearstream as partner for fund processing
SIX has chosen Clearstream Banking as strategic partner to consolidate its fund processing activities. Clearstream’s investment fund processing infrastructure Vestima enables processing of all types of funds – from mutual funds to hedge funds – on a single platform.
Centralised solutions such as Clearstream’s Vestima platform support market participants to comply with the regulatory requirements and new rules on risk mitigation. With its delivery-versus-payment settlement process, Vestima’s secured transaction model helps to optimise operational efficiency and to reduce risk.
Thomas Zeeb, Head of Securities & Exchanges, Member of the Executive Board at SIX, said: “Partnering with an organisation that places the same focus on operational integrity and efficiency as SIX was a critical requirement for us when conducting a review of our primary fund provider.”
Philippe Seyll, Co-CEO of Clearstream Banking, added: “We are delighted to be partnering with SIX. This collaboration will create high operational synergies in investment fund processing for both sides. SIX will profit from our one-stop-shop portal as well as robust and proven infrastructure. This will enable SIX to foster efficiencies for underlying clients and scale their investment fund businesses. We are looking forward to working together with SIX in the future.”
As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream, a part of Deutsche Börse Group, provides the post-trade infrastructure for the Eurobond market and services for securities from 56 domestic markets worldwide. With 13 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities. Alongside its highly automated mutual fund services, Clearstream provides clients with a “one-stop shop” solution for all fund types.
SIX operates and develops infrastructure services in the Securities & Exchanges, Payments and Financial Information business units with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss financial center. SIX is owned by its users (127 banks). With a workforce of some 4,000 employees and a presence in 23 countries, it generated operating income in excess of CHF 1.9 billion and Group net profit of CHF 207.2 million in 2017.
In the Securities & Exchanges business unit SIX offers its customers in Switzerland and around the world a comprehensive range of exchange services – listing, trading and post-trade solutions – from a single source. In doing so, SIX combines the dynamism of one of Europe’s foremost stock exchanges with the stability and reliability of one of the most respected post-trade service providers in the industry.