Credit Suisse is LuxCSD's first transfer agent
28 November 2013 Luxembourg
![Generic business image for news article](https://www.assetservicingtimes.com/assetservicesnews/images/ThursdayNovember2820131385652441.jpg)
Credit Suisse Fund Services in Luxembourg has joined Luxembourg’s CSD, as its first transfer agent.
More than 1,500 investment fund share classes handled by Credit Suisse Fund Services in Luxembourg are now available for settlement in EUR central bank money.
“The migration to LuxCSD results in a series of benefits for investors in Credit Suisse investment funds, such as reduced settlement risk through direct access to central bank money. Thanks to LuxCSD’s link to Clearstream’s investment funds order routing platform, these funds are available to both domestic and international counterparties,” said a statement.
In view of the implementation of TARGET2-Securites, LuxCSD will support Credit Suisse Fund Services to be best positioned for the growing demand from distributors/ investors to facilitate settlement through a T2S based account.
Distributors of Credit Suisse funds will be able to consolidate settlement against domestic and cross-border counterparties on one single platform and benefit thanks to LuxCSD’s link to Clearstream from both market models: the current (I)CSD/TA and the future T2S model.
Claude Metz, head of transfer agency at Credit Suisse Fund Services in Luxembourg, said: “With T2S approaching we expect an increasing demand from fund distributors to facilitate CSD settlement in order to benefit from T2S. The migration to LuxCSD ensures we are well positioned for a smooth transition to T2S - the future, harmonised settlement platform in Europe.”
“We are pleased to welcome the first transfer agent using LuxCSD’s fund issuance and settlement services. The migration of fund shares handled by Credit Suisse is a further milestone for LuxCSD in fulfilling its mandate to prepare the Luxembourg investment funds industry for the implementation of T2S and to ensure an easy transition for market participants”, said Patrick Georg, LuxCSD’s general manager.
More than 1,500 investment fund share classes handled by Credit Suisse Fund Services in Luxembourg are now available for settlement in EUR central bank money.
“The migration to LuxCSD results in a series of benefits for investors in Credit Suisse investment funds, such as reduced settlement risk through direct access to central bank money. Thanks to LuxCSD’s link to Clearstream’s investment funds order routing platform, these funds are available to both domestic and international counterparties,” said a statement.
In view of the implementation of TARGET2-Securites, LuxCSD will support Credit Suisse Fund Services to be best positioned for the growing demand from distributors/ investors to facilitate settlement through a T2S based account.
Distributors of Credit Suisse funds will be able to consolidate settlement against domestic and cross-border counterparties on one single platform and benefit thanks to LuxCSD’s link to Clearstream from both market models: the current (I)CSD/TA and the future T2S model.
Claude Metz, head of transfer agency at Credit Suisse Fund Services in Luxembourg, said: “With T2S approaching we expect an increasing demand from fund distributors to facilitate CSD settlement in order to benefit from T2S. The migration to LuxCSD ensures we are well positioned for a smooth transition to T2S - the future, harmonised settlement platform in Europe.”
“We are pleased to welcome the first transfer agent using LuxCSD’s fund issuance and settlement services. The migration of fund shares handled by Credit Suisse is a further milestone for LuxCSD in fulfilling its mandate to prepare the Luxembourg investment funds industry for the implementation of T2S and to ensure an easy transition for market participants”, said Patrick Georg, LuxCSD’s general manager.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
![Advertisement](../images/bull-252524.png)