HSBC appoints Clearstream for third-party fund processing and distribution support services
HSBC has chosen Clearstream, Deutsche Börse’s post-trading service provider, as its global partner for administering investment fund activities for fund order routing, safekeeping, settlement and distribution support services.
Vestima, Clearstream’s investment fund processing infrastructure, enables processing of all types of funds – from mutual funds to hedge funds, private equity and ETFs – on a single platform. Clearstream Fund Centre provides centralised contract maintenance and commission management as well as the exchange of data and information between distribution partners and fund providers.
By centralising fund processing and distribution support services with Clearstream, HSBC’s Markets & Securities Services business will have comprehensive support for fund order routing and settlement services, resulting in enhanced operational efficiencies and broader coverage of the fund universe.
Sebastien Danloy, Global Head of Investor Services, Markets & Securities, at HSBC, said: “We selected Clearstream as our global partner to simplify our post-trade operations, drive digitisation and enable further growth for fund order routing and settlement activities. The combined strengths of Clearstream’s offering and HSBC’s international network will enable us to offer our global clients industry-leading digitised solutions for fund order routing, settlement and associated services.”
Philippe Seyll, Chief Executive Officer of Clearstream Fund Centre S.A., added: “We are delighted to be collaborating with HSBC in this partnership, which will create high operational synergies and optimise the mutual growth of our funds business. HSBC and its wide and diverse institutional client base stand to benefit from our proven infrastructure, which is recognised for its extremely high levels of asset safety and distribution services capability. We welcome HSBC to our ever-growing community of global custodian clients.”
About Clearstream
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 59 domestic markets worldwide. With 16 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities.
Clearstream delivers investment fund solutions built on asset safety and distribution efficiency. The Vestima one-stop shop for funds acts as 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 50 fund jurisdictions worldwide.
www.clearstream.com
About HSBC
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,985bn at 30 June 2022, HSBC is one of the world’s largest banking and financial services organisations.