Deutsche Börse’s post-trade services provider Clearstream has announced that it has completed the acquisition of Swisscanto Funds Centre Ltd. (SFCL) from Zürcher Kantonalbank, following the approval of the British and Luxembourgish regulatory authorities.
The addition of SFCL will further enhance Clearstream’s service portfolio and support the company’s global fund services strategy. With the acquisition, the company is expanding its offering in the fund space to include management of distribution contracts and data processing.
The future set-up of SFCL within Deutsche Börse Group will be designed to further develop and expand its highly successful business model, as it will be empowered by the broad capabilities of Deutsche Börse Group. SFCL’s product offering for the Swiss funds market will be further extended to match the needs of Clearstream’s international customer base.
Philippe Seyll, Co-CEO of Clearstream Banking S.A., said:
Swisscanto Funds Centre is a great match for Clearstream. This acquisition allows us to further broaden our suite of fund services to meet the current market needs – making us an even strong partner for our clients.
Mark O’Brien, CEO at Swisscanto Funds Centre Ltd., added:
In Clearstream, with its extensive expertise in the fund markets, we have found a compatible owner for the Fund Desk. Becoming part of Deutsche Börse Group also gives us the opportunity to further develop our services within the context of Clearstream’s wider business strategy. In doing so, we can continue to provide our proven services to our existing client base and to new customers in future.