Luxembourg is automated fund distribution hub 17 June 2014Luxembourg Reporter: Catherine Van de Stouwe
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VP Lux is introducing a fully automated order routing, settlement and central securities depository (CSD) issuance facility that will future proof cross-border fund distribution.
The platform will be launched on 16 September and will create a new infrastructure for transfer agents and issuers operating in Luxembourg.
The platform, vp.Fund Hub, is building on the success of the past 12 months that have seen international fund distribution volume out of Denmark surpassing €500 million.
Bjørn Stendoph Crepaz, senior project manager at VP Securities in Denmark, said: “Fund distribution via vp.Fund Hub and the network of CSDs provides safe, robust and rapid distribution with a low risk profile.”
With the vp.Fund Hub compatible with the current transfer agent set-up, VP Lux is looking to partner with transfer agents to allow a wider fund distribution across Luxembourg by reducing the manual process with the benefits of the fully automated system.
Jan Vandendriessche, head of fund platforms at VP Lux, commented: “We are very pleased to announce that we are offering this solution to Luxembourg’s TAs and international investors.”
“The platform will be launched in September and we have commenced discussions with transfer agents and potential partnering institutions.”
“The flexible systems will ensure the future proofing of TAs, partnering institutions and investors with regard to CSD issuances and will help them connect to Target2-Securities.”
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