Danske Bank chooses Clearstream for third-party fund processing
Danske Bank has chosen Clearstream Banking as its 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, private equity and ETFs – all on a single platform.
The recent launch of its Fund Desk distribution support services has further enhanced the attractiveness of Clearstream’s investment fund solutions. Danske Bank values Clearstream’s move into the distribution support segment now acting upon the call of its clients for more data and transparency along the distribution chain.
Ainura Bizhanova, Head of Network Management & CM Partner Banks at Danske Bank, said: “Partnering with an organisation that places the same focus on operational integrity and distribution efficiency as Danske Bank was a critical requirement for us when conducting a review of our primary fund provider.”
Bernard Tancré, Head of Investment Fund Services at Clearstream, added: “We are delighted to be supporting Danske Bank which will create high operational synergies in investment fund processing for both sides. Danske Bank will profit from our proven infrastructure known for asset safety and distribution efficiency. This will enable Danske to foster efficiencies for underlying clients and scale their investment fund businesses.”
One-stop shop for funds
Clearstream acts a single point of entry for orders, streamlined cash management and consolidated position reporting in a secure environment. Clearstream offers customers direct access to local domiciled funds in 48 fund jurisdictions worldwide, of which 30 are in Europe.
About Danske Bank
Danske Bank offers a strong and sustainable full-scale custody service. We help our customers access the global securities marketplace and provide a fully supported end-to-end solution that meets customers’ requirements and market trends. In addition to our Nordic and global custody services offering, we provide customers with fund order routing and settlement service, where centralised solutions such as Vestima are built on asset safety and distribution efficiency, and we support market participants in complying with the latest regulatory requirements and rules on risk mitigation.