Clearstream completes acquisition of Ausmaq Limited
Today, Deutsche Börse’s post-trade services provider Clearstream completed the acquisition of Ausmaq Limited from National Australia Bank (NAB), following receipt of approval from the Luxembourgish regulatory authorities.
With the addition of the Sydney-based managed funds custodian Ausmaq, Clearstream is entering the domestic Australian funds market. The future set-up of Ausmaq within Clearstream’s Investment Fund Services business will be designed to directly serve Australian customers within the same region and time zone
In 2020, Clearstream will also connect international and Australian market participants via its fully automated fund processing platform Vestima. Ausmaq’s customers will benefit from access to international and alternative funds via Clearstream’s global fund network. Clearstream’s existing customers will benefit from stronger access to Australian funds.
Bernard Tancré, Head of Investment Funds Services at Clearstream, said: “The acquisition of Ausmaq is the perfect opportunity to broaden our network to include the Australian domestic market. By integrating our Vestima offering and Ausmaq’s services, we will be able to provide Australian custodian banks, wrap platforms and wealth managers with our proven international services.”
Ravi Subramaniam, Chief Executive Officer of Ausmaq, said: “We are excited to join an internationally renowned post-trading company like Clearstream. This will provide Ausmaq’s existing and future domestic customers with a broader suite of investment opportunities and likewise provide Clearstream’s customers with direct access to the thriving Australian managed funds market.”
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 58 domestic markets worldwide. With around 14 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities. Alongside access to more than 190,000 investment funds in close to 50 jurisdictions worldwide and highly automated mutual fund services, Clearstream provides clients with a ‘one-stop shop’ solution for all fund types.
About Ausmaq Limited
Ausmaq Limited is a specialist managed funds services business that safekeeps managed funds and term deposits for leading wrap platform providers and wealth managers in Australia. At present, over 1,400 managed funds are available on the Ausmaq platform, which processes approximately 350,000 managed fund transactions annually.