Clearstream has acquired Sydney-based managed funds custodian, Ausmaq, and has entered the domestic Australian funds market.
The future set-up of Ausmaq within Clearstream’s Investment Funds Services business will be designed to directly serve Australian customers within the same region and time zone.
In 2020, Clearstream will also connect international and Australian market participants via its fully automated processing platform Vestima.
Ausmaq’s customers will benefit from access to international and alternative funds via Clearstream’s global fund network.
Meanwhile, Clearstream’s existing customers will benefit from stronger access to Australian funds, Clearstream revealed.
Bernard Tancré, head of investment funds services, Clearstream, commented: “The acquisition of Ausmaq is the perfect opportunity to broaden our network to include the Australian domestic market.”
“By integrating our Vestima offering and Ausmaq’s services, we will be able to provide Australian custodian banks, wrap platforms and wealth managers with our proven international services.”
Ravi Subramaniam, CEO of Ausmaq, said: “We are excited to join an internationally renowned post-trading company like Clearstream.”
“This will provide Ausmaq’s existing and future domestic customers with a broader suite of investment opportunities and likewise provide Clearstream’s customers with direct access to the thriving Australian managed funds market.”
