Under the agreement, Six and Euroclear are bringing together order routing and unit settlement onto a single platform for all types of fund transactions. This will benefit clients by giving them an enhanced service quality and processing efficiencies.
In addition to this, specialist hedge fund know-how and experience as well as integrated reporting for all asset classes will be on offer to clients.
Mutual clients of SIX and Euroclear will benefit from market proximity, with SIX covering primarily Swiss market securities and clients, combined with Euroclear’s significant global network of over 500 transfer agents.
The partnership has also allowed for cost savings through processing and standardization and the reduction of risk though the straight-through processing of transactions, with an option to open segregated accounts.
Tim Howell, CEO of Euroclear, said: “We welcome the alliance with SIX Securities Services which integrates the expertise, scale and services of our two organisations for the benefit of Swiss wealth management.”
“This open-architecture co-operation between two infrastructure powerhouses comes at a time when regulatory changes like the [Market in Financial Instruments Directive], [Alternative Investment Fund Managers Directive] and UCITS V are pushing our industry towards greater processing certainty, asset protection and related portfolio transparency.”
CEO of SIX Securities Services, Thomas Zeeb, said: “This is a demonstration of our long-term commitment to this market and capitalises on our deep understanding of client needs as well as our specialist hedge fund expertise.”
“This is, effectively, two partners you can trust – delivering services out of one hand.”