Renell Bank extends partnership with CACEIS 21 March 2019Paris Reporter: Jenna Lomax
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Renell Wertpapierhandelsbank AG (Renell) has extended its partnership with CACEIS to support its clearing and settlement services.
CACEIS is already a clearing settlement agent for Renell Bank’s over-the-counter fund business.
CACEIS has supported Renell’s complete fund, equity and fixed income range since late 2018.
For the funds, this also included the settlement of exchange transactions relating to German regional stock exchanges in Düsseldorf, Berlin and Frankfurt as well as segments of the Swiss Stock Exchange.
Marc Renell, CEO of Renell Bank, said: “The combination of execution and settlement solutions makes CACEIS Bank the ideal partner for us. For our business, the broad variety of market connectivity solutions is as important as the renowned operational excellence and the long-term experience.”
He added: “CACEIS has already developed proven solutions for other market makers on stock exchanges and trading platforms.”
Thies Clemenz, managing director of CACEIS in Germany, commented: “We appreciate the trust Renell Bank placed in us and are delighted to have been awarded this extensive mandate for Renell’s entire fund, equity and bond range.”
He added: “CACEIS Bank is continuously adapting its services to its clients’ changing needs and from now on Renell Bank will benefit from the group’s clearing and settlement expertise.”
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