Banque Internationale à Luxembourg (BIL) has further strengthened its partnership with post-trade services provider Clearstream.
Clearstream will support the bank in streamlining its third-party fund processing activities.
The scope of services includes order execution, settlement, and asset servicing of both mutual and hedge funds.
Centralised solutions, such as Clearstream’s investment fund processing infrastructure Vestima, have allowed market participants to benefit from a fully automated platform.
According to Clearstream, BIL values its capacity to act as a one-stop-shop. It handles all types of investment funds (ETFs, mutual and hedge funds), in compliance with stringent regulatory oversight.
Additionally, Clearstream’s AA rating addresses the customer’s asset safety policies.
Yves Baguet, COO at BIL, commented: “Clearstream’s commitment to the investment fund industry was the key driver to become a user of Vestima.”
Baguet added: “The long-standing experience in bringing efficiencies to the market will help us further industrialise order flow.”
Philippe Seyll, Co-CEO and head of investment fund services, Clearstream, said: “We welcome the decision of BIL to rely on Vestima. Providing operational efficiency to our partners is part of our DNA and we are looking forward to our future cooperation.”
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