Eleven new members will join the Central Facility for Funds (CFF), Clearstream’s new post-trade solution for investment funds domiciled in Luxembourg, Europe’s largest market for international funds.
The new members are: Nordea Bank SA, JP Morgan, UBS Fund Services, BNP Paribas Luxembourg, European Fund Services, Fasnet, Alliance Bernstein, ING, Banque de Luxembourg, Hauck and Aufhuser Luxembourg and Equity Trust Luxembourg.
The eleven firms join Schroder Investment Management and Pictet and Cie, who were the first pilots to use CFF when it was launched in March 2007.
The industry has grown by 80 percent over the past three years but its post-trade behaviour is still characterized by high fragmentation, little standardization and continued operational risk.