Clearstream creates new bank in Luxembourg for institutional fund investors

Steffy Bogdanova
April 12, 2023 3:41 pm

Global post-trading services provider Clearstream has created a new bank in Luxembourg – Clearstream Fund Centre S.A.

Deutsche Börse’s subsidiary highlighted in its Wednesday statement that the new entity operates under a commercial banking licence and is dedicated to serving institutional fund investors.

Philippe Seyll, CEO of Clearstream Fund Centre S.A., said:

It is at the heart of Clearstream’s mission to support the wealth management and banking community with best-in-class execution services, efficient distribution management, state-of-the-art technology and data solutions. The creation of Clearstream Fund Centre S.A. is a strong testimonial to our client dedication as well as to Luxembourg as our home and important financial centre.

Clearstream

According to the official announcement, the recently established banking firm will cater to Clearstream‘s fund execution enterprise, Vestima, reputed as the world’s most extensive fund-processing platform, with access to 230,000 funds in 50 markets. It has acquired a commercial banking permit through the new banking platform.

Furthermore, the bank will facilitate the fund distribution platform Fund Center, connecting global asset managers and fund houses with distribution partners, rendering access to 72,000 funds.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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