Clearstream completes acquisition of Swisscanto Funds Centre
Today, Deutsche Börse’s post-trade services provider Clearstream completed the acquisition of Swisscanto Funds Centre Ltd. (SFCL) from Zürcher Kantonalbank, following the approval of the British and Luxembourgish regulatory authorities.
The addition of SFCL will further enhance Clearstream’s service portfolio and support the company’s global fund services strategy. With the acquisition, the company is expanding its offering in the fund space to include management of distribution contracts and data processing.
The future set-up of SFCL within Deutsche Börse Group will be designed to further develop and expand its highly successful business model, as it will be empowered by the broad capabilities of Deutsche Börse Group. SFCL’s product offering for the Swiss funds market will be further extended to match the needs of Clearstream’s international customer base.
Philippe Seyll, Co-CEO of Clearstream Banking S.A., said: “Swisscanto Funds Centre is a great match for Clearstream. This acquisition allows us to further broaden our suite of fund services to meet the current market needs – making us an even strong partner for our clients.”
Mark O’Brien, CEO at Swisscanto Funds Centre Ltd., said: “In Clearstream, with its extensive expertise in the fund markets, we have found a compatible owner for the Fund Desk. Becoming part of Deutsche Börse Group also gives us the opportunity to further develop our services within the context of Clearstream’s wider business strategy. In doing so, we can continue to provide our proven services to our existing client base and to new customers in future.”
As an international central securities depository (ICSD), headquartered in Luxembourg, Clearstream, which is part of Deutsche Börse Group, provides the post-trade infrastructure for the Eurobond market and services for securities from 57 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. Clearstream is also a founding partner of the Luxembourg House of Financial Technology, Luxembourg’s dedicated fintech platform where finance and technology interact to foster innovation and develop solutions to shape the future of financial services.
About Zürcher Kantonalbank
Zürcher Kantonalbank is an independent public-law institution of the Canton of Zurich, incorporated under the laws of the Canton of Zürich. Its registered corporate domicile and principal place of business is in Zurich, Switzerland. It has received top ratings from the rating agencies Standard & Poor’s, Moody’s and Fitch (AAA/Aaa). With more than 5,000 employees, Zürcher Kantonalbank offers its clients a comprehensive range of products and services. The bank’s core activities include financing businesses, asset and wealth management, trading, capital market transactions, deposits, payment transactions and card business. Zürcher Kantonalbank provides clients and distribution partners with a comprehensive range of investment and retirement provision products and services.
About Swisscanto Funds Centre Ltd.
Swisscanto Funds Centre Ltd. (SFCL) offers an investment fund platform called “Fund Desk” that brings together a network of financial institutions acting as distribution partners with a community of fund providers looking for growth in AuM. SFCL with its many years of expertise, unique positioning and build-up of industry contacts provides the full range of one-stop services, beginning with commercial contract negotiation through to regulatory compliance, operational set up, operational business execution, system automation, reporting, fee collection and payment. SFCL also has wealth of data on investment funds with a fund database covering around 50,000 funds with hundreds of data points on each one, legal documents including prospectuses, KIIDs, factsheets, annual accounts and sales & marketing documentation, news, industry topic webinars & roadshows. For fund providers, it offers not only access to markets but moreover transparency and sales support with its unique Fund Provider Portal offering insight to the activities of their appointed distribution partners. SFCL has received multiple awards since 2015 as one of the best platform operators for the Swiss market – with recognition for its positioning and outstanding quality of services. With the completion of the sale SFCL now becomes a wholly-owned subsidiary of Clearstream International S.A., a Deutsche Börse Group Company.