Clearstream expands fund processing platform in Belgium

Bank Degroof Petercam has selected Clearstream as a strategic partner in a bid to update and combine its third-party fund processing activities.

Under the arrangement the Belgian bank will utilise Clearstream’s fund processing infrastructure Vestima which can process a variety of fund types including hedge funds and ETFs on a single platform.

“Clearstream’s long-term and high quality commitment to the investment fund industry was a key driver to become users of Vestima,” said Pascal Nyckees, COO at Bank Degroof Petercam.

“We expect our clients to benefit from increased efficiency thanks to the automated processing of our entire fund portfolio.”

The move is also driven by upcoming regulatory demands with the forthcoming implementation of AIFMD and UCITS V regulation driving demands for increased transparency and risk mitigation requirements.

“We are delighted that Bank Degroof Petercam has chosen Vestima for the processing of fund assets. Vestima will provide the entire Degroof Petercam group with streamlined services across all fund types,” said Philippe Seyll, co-CEO and head of investment fund services at Clearstream.