23 September 2014
Reporter: Catherine Van de Stouwe

Euroclear and SIX partner for Swiss clients

SIX Securities Services and Euroclear Bank have joined forces in a co-operation initiative to provide more cost- and risk-efficient fund services to Swiss investors.

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.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Merrill Lynch first to fall foul of UK’s EMIR reporting rules
23 October 2017 | London | Reporter: Drew Nicol
The bank accepted a £34.52 million penalty relating to 68.5 million unreported transactions between February 2014 and February 2016
Wolters Kluwer chosen for risk and reg by Polish bank
23 October 2017 | Warsaw | Reporter: Theo Andrew
Bank BPS will use the OneSumX solutions for static and dynamic projection analysis, liquidity reporting, interest-rate and foreign-exchange risk, as well as value-at-risk analysis
Iberclear bank on Citi to provide global custody
20 October 2017 | Madrid | Reporter: Jenna Lomax
The agreement, signed at this years Sibos conference in Toronto, will enable Spanish clearing houses to settle international securities via local CSDs
Clearstream promises post-Brexit services continuity
20 October 2017 | London | Reporter: Jenna Lomax
Despite the uncertainty that came after the referendum results last year, Clearstream said its main objective through Brexit was to minimise risk of cross-border settlement
AI will be transformative, but is still in early stages
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Artificial intelligence is a “transformational technology” that will improve productivity and security, and provide a competitive advantage, according to a live poll at Sibos 2017
Security and standards key in blockchain solutions
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Distributed ledger technology (DLT) solutions should embed security measures at their very core, especially in the financial services space, according to Sibos panellists
LCH promotes Daniel Maguire to CEO
19 October 2017 | London | Reporter: Jenna Lomax
Maguire, who has been COO of the same department since April this year, was previously senior vice president for commodity exotics and hybrids at J.P. Morgan
More news