Global post-trade services provider Clearstream has created a new bank in Luxembourg dedicated to serving institutional fund investors.
Clearstream Fund Centre S.A. will operate under a commercial banking licence in Luxembourg and will be interlinked with Clearstream’s international central securities depository (ICSD) and central securities depository (CSD) businesses.
It will serve Clearstream’s fund execution business Vestima, providing access to more than 230,000 funds in over 50 markets.
Vestima provides order execution, settlement and custody services and holds a commercial banking licence via Clearstream Fund Centre S.A..
The new bank will also be regulated under MiFID to support clients to fulfil regulatory fund requirements.
Philippe Seyll, CEO of Clearstream Fund Centre S.A., says: “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 an important financial centre.”
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