The Italian online broker Directa has signed an agreement with Clearstream to provide Italian investors with access to Clearstream’s global funds portfolio.
Via Directa’s trading platform and network of financial advisors, clients are able to access Clearstream’s funds suite with more than 190, 000 international funds.
The CACEIS Bank Italy branch will act as a Local Paying Agent in this transaction. Streamlining order flows, CACEIS will ensure communication with transfer agents via Clearstream’s Vestima platform.
Additionally, Clearstream will provide Directa with fund distribution support via its Fund Centre platform.
Speaking on the announcement, Giancarlo Marino, private banking CEO of Directa, says: “We consider this partnership a strategic step for development of our private banking project. Since the beginning, we have aimed to create a distinct offer from traditional players, allowing our customers to have access to a range of products and services characterised by profiles of qualitative excellence. We believe that today’s choice goes exactly in that direction.”
Philippe Seyll, head of fund services at Clearstream, adds: “We are delighted to support Directa together with CACEIS to provide Italian distributors and investors with execution, distribution and data services via our Fund Centre and Vestima fund platforms.
“As we have long been serving institutional investors in Italy, the country has always been a key market for Clearstream, and we are excited to extend the offering now to retail investors.”
