New fund distribution support services
- Clearstream adds fund distribution support services to its funds processing platform Vestima
- Swisscanto Funds Centre Ltd. fully integrated into Clearstream Banking S.A. as “Clearstream Fund Desk”
- New services help clients to meet regulatory requirements for transparency and standardisation in fund distribution
Deutsche Börse Group’s post-trade services provider Clearstream is expanding its investment funds service offering. Going forward, the company will complement its current Vestima funds processing services with distribution support services under the umbrella of Clearstream Fund Desk.
Heightened product governance and regulatory requirements under MiFID II have increased the call for more data, transparency and standardisation in fund distribution. Clearstream’s new fund distribution support services will support market participants clients to comply.
Bernard Tancré, Head of Investment Funds Services at Clearstream, comments: “We are thrilled to be able to offer fund distribution support services to our customers worldwide. This service enhancement was strongly driven by client demand. It supports market participants in facing regulatory and other market challenges around fund distribution, such as MiFID II in the European Union and having full control over distribution chains.”
Clearstream Fund Desk services will cover distribution contract negotiation, compliance support services for eligibility control and anti-money-laundering (AML), know-your-customer (KYC) and know-your-distributor (KYD) rules, exchange fund data from asset managers to fund distributors and vice versa, as well as a distribution commission management service.
After the acquisition of the fund distribution support services provider Swisscanto Funds Centre Ltd. in October 2018, the services have been renamed in Clearstream Fund Desk and fully integrated into Clearstream’s Investment Funds Services product range. Using their existing Vestima account, fund distributors and asset managers can access the new services to expand their international distribution networks.
More about Clearstream Fund Desk:
More about Vestima:
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 57 domestic markets worldwide. With EUR 14 trillion 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.