Ausmaq becomes Clearstream Australia 04 June 2020Australia Reporter: Natalie Turner
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Global post-trade services provider Clearstream has re-branded Ausmaq, a specialist custodian and funds processor, as Clearstream Australia.
The Deutsche Boerse subsidiary acquired Sydney-based Ausmaq from National Australia Bank in July 2019 as part of its move into the Australian domestic market.
Now, the newly re-branded Clearstream Australia has been fully integrated into Vestima, Clearstream’s one-stop shop platform for cross-border investment fund services, and will provide access to its international and domestic services for custodian banks in the Australian market.
The Australian arm offers specialist custody of managed funds and term deposits for leading wrap platform providers as well as wealth managers in Australia.
At present, over 1,500 managed funds worth around €37 billion in assets under custody and term deposits are available on the domestic Australia platform, according to Clearstream.
Clearstream said the move into the Australian market, which currently ranks with fund assets under management of around €1.75 trillion will allow it to facilitate access to the local market for international investors which would boost local Australian domestic flows.
Ravi Subramaniam, chief executive of Clearstream Australia, said: “We see growing interest in cross-border investments in Australia. Connecting the Australian market with other international markets, Clearstream Australia will support our clients with local expertise and knowledge of the domestic market, embedded in an international network for investment fund services.”
Clearstream is headquartered in Luxembourg and has operational centres in Cork, Prague and Singapore. It also maintains other representative offices in London, Hong Kong, Tokyo, Dubai, New York and Zurich.
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