Clearstream and HedgePole partner on new alternative fund data service
Post-trade services provider Clearstream, which is part of Deutsche Börse Group, and HedgePole, a well-established specialist service and technology provider for hedge funds price and reference data, have entered into a cooperation agreement to provide the market with enhanced alternative fund price and reference data services. The need to provide specific high quality and up-to-date reference data and pricing to end investors for their holdings in alternative investments, such as hedge funds and private equity, as well as key regulatory requirements for compliance and anti-money laundering purposes are a key industry issue. This has led to the evolution of specific information requirements on an individual customer level.
Investors all have their own individual priorities when it comes to data requirements. To date, however, there has been no fluid offering allowing customers to select their own criteria and obtain a comprehensive service for their transactions in hedge funds from one source. In response to this growing market demand, in addition to the existing trade execution and depositary services, Clearstream is now offering dynamic and static hedge funds data in partnership with data specialist HedgePole. These services will be provided through HedgePole’s web-based technology platform HedgeData.
Clearstream will offer HedgePole’s data collection services to clients as an extension of its current VestimaPRIME service offering for funds. The new service will comprise of a combined pricing and reference data package for requested information on alternative funds, based on the customer’s eligibility and the fund manager’s authorisation. This new data service will support fund investors and distributors in the maintenance of their hedge fund portfolio, from reference data and pricing to customized reporting.
Joanna Babelek, CEO of HedgePole, said: “With this joint offering, customers can benefit from enhanced, standardised, yet flexible access to the alternative funds documents, price and reference data. The HedgeData e-platform has been designed to significantly reduce cost and operational risk while improving data quality and its timely electronic delivery to all involved parties.”
Philippe Seyll, Co-CEO of Clearstream Banking S.A. and Head of Investment Funds Services, commented: “The launch of this new data service and the enhancement of fund data services in the alternative funds segment is a further milestone of our Vestima 2020 vision to become the ‘ICSD for Funds’ by bringing efficiency and safety to the global investment fund market.”
HedgePole, headquartered in Switzerland, with its proprietary e-platform HedgeData, is a financial services organization and a leading technology partner focused on operations, sourcing, processing and distribution of data in the alternative investments space. HedgePole's mission is to continuously increase straight-through-processing rates and support process standardization and transparency of information in the hedge fund industry.
As an international central securities depository (ICSD) headquartered in Luxembourg and part of Deutsche Börse Group, Clearstream 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.