HSBC picks Clearstream for post-trade services
10 October 2022 Luxembourg
Image: Synthex
HSBC has selected Deutsche Börse’s post-trading service provider Clearstream to administer investment fund activities.
The partnership will provide HSBC’s markets and securities business with support for fund order routing, safekeeping, settlement and distribution support services. This will allow for improved operational efficiency and a wider coverage of the fund universe, the company says.
Clearstream’s investment fund processing infrastructure, Vestima, offers centralised contract maintenance and commission maintenance. The service has the capacity to process a variety of funds on a single platform, and allows for data exchange between distribution partners and fund providers.
Sebastien Danloy, global head of investor services for markets and securities at HSBC, says: “We selected Clearstream as our global partner to simplify our post-trade operations, drive digitisation and enable further growth for fund order routing and settlement activities. The combined strengths of Clearstream’s offering and HSBC’s international network will enable us to offer our global clients digitised solutions for fund order routing, settlement and associated services.”
Phillippe Seyll, CEO of Clearstream, comments: “This partnership will create high operational synergies and optimise the mutual growth of our funds business. HSBC and its wide and diverse institutional client base stand to benefit from our proven infrastructure, which is recognised for its extremely high levels of asset safety and distribution services capability.”
The partnership will provide HSBC’s markets and securities business with support for fund order routing, safekeeping, settlement and distribution support services. This will allow for improved operational efficiency and a wider coverage of the fund universe, the company says.
Clearstream’s investment fund processing infrastructure, Vestima, offers centralised contract maintenance and commission maintenance. The service has the capacity to process a variety of funds on a single platform, and allows for data exchange between distribution partners and fund providers.
Sebastien Danloy, global head of investor services for markets and securities at HSBC, says: “We selected Clearstream as our global partner to simplify our post-trade operations, drive digitisation and enable further growth for fund order routing and settlement activities. The combined strengths of Clearstream’s offering and HSBC’s international network will enable us to offer our global clients digitised solutions for fund order routing, settlement and associated services.”
Phillippe Seyll, CEO of Clearstream, comments: “This partnership will create high operational synergies and optimise the mutual growth of our funds business. HSBC and its wide and diverse institutional client base stand to benefit from our proven infrastructure, which is recognised for its extremely high levels of asset safety and distribution services capability.”
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