Clearstream launches new bank in Luxembourg for institutional fund investors
Global post-trading services provider Clearstream, a subsidiary of the Deutsche Börse Group, has created a new bank in Luxembourg to serve institutional fund investors.
The new entity, named Clearstream Fund Centre, operates under a commercial banking licence in Luxembourg and will sit within Clearstream’s Fund Services business segment.
Clearstream Fund Services provides solutions for the fund ecosystem via three business lines – its fund execution business Vestima, European fund data hub Kneip, and the newly created Fund Centre bank.
Vestima provides order execution, settlement, and custody services for more than 230,000 funds in over 50 markets.
Clearstream Fund Centre will also be “closely interlinked” with the company’s securities services businesses as the firm looks to leverage “cross-divisional synergies” for its clients.
Philippe Seyll, CEO of Clearstream Fund Centre SA, says the company’s mission is to “support the wealth management and banking community” with execution services, efficient distribution management, and new technology and data solutions.