Clearstream expands fund platform offering to Cyprus
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Clearstream expands fund platform offering to Cyprus 08 January 2019Nicosia Reporter: Jenna Lomax
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Clearstream has further expanded its Vestima offering by making Cyprus-domiciled investment funds eligible for order routing, settlement and custody.
International customers can use their Vestima setup to directly access Cyprus-domiciled funds and benefit from the same streamlined handling as for other markets.
Assets under management in Cyprus have more than doubled from €2.1 billion in 2012 to €4.8 billion in 2018.
This expansion comes after Clearstream revealed in a blog post that 2019 will see further enhancements of its product offering and network.
The blog post was written by Thilo Derenbach, Clearstream’s newly appointed head of TARGET2-Securities (T2S) investor-central securities depository (CSD).
According to Derenbach, approximately 80 percent of the custody and settlement volume of T2S markets is now available through Clearstream’s investor-CSD model.
To keep that number growing, Derenbach revealed that “Greece will join our investor-CSD solution and we will expand our French offering into French Registered Shares. We also want to cover further smaller, but equally relevant T2S-in markets”.
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