Clearstream has expanded its third-party fund processing platform Vestima to include Cyprus-domiciled investment funds.
The addition will allow Cyprus funds, including Cyprus UCITS and AIFs, to be eligible for order routing, settlement and custody.
International users of Vestima will be able to use their existing setups to directly access these funds and benefit from the same streamlined handling as for other markets.
“Adding Cyprus funds to Vestima shows not only the demand from our clients, but also our confidence in Cyprus as an emerging funds domicile,” said Bernard Tancre, head of investment funds services, Clearstream.
Assets under management for Cypriot funds have more than doubled from €2.1 billion in 2012 to €4.8 billion in 2018.
In October last year, Clearstream established a new link between its Vestima platform and the Shenzhen Securities Communication (SSC), where it would facilitate the direct processing of cross-border investment transactions between Mainland China, Hong Kong and international market participants.