Clearstream partners with Standard Chartered 14 May 2024Luxembourg Reporter: Klea Neza
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Clearstream has partnered with Standard Chartered with the intention of facilitating the inclusion of UAE domiciled funds on its Vestima platform.
This collaboration aims to ensure end-to-end fund processing and execution while maintaining compliance with recent regulatory updates from the Securities and Commodity Authority (SCA) of the UAE.
It also will extend enhanced custodial support to Standard Chartered for the custody and execution of UAE domiciled funds and expands investment opportunities for retail clients through Clearstream’s Vestima platform.
Neil Wise, chief commercial officer for Clearstream Fund Services, says: “This collaboration exemplifies our commitment to fostering partnerships and delivering market solutions. Through Vestima, custodians can continue to support local funds, contributing to the growth of the fund business in the UAE while adhering to regulatory standards.”
Owen Young, managing director and regional head of Wealth Management for Africa, the Middle East and Europe at Standard Chartered, comments: “Through this collaboration with Clearstream, we are able to offer locally domiciled funds to our retail customers in the UAE and deliver on our promise to provide innovative and best-in-class investment solutions that cater to clients’ diverse needs while supporting the UAE government's vision of making the country a global financial hub.”
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