Japan Wealth Management Securities, Inc. (JWM), a Japanese fund distributor, has become the first Japanese customer of Clearstream’s Central Facility for Funds (CFF), a service launched last year for the post-trade processes in the cross-border investment funds industry.
In joining CFF, JWM will link directly to the Luxembourg based transfer agents. CFF offers a straight through processing (STP) service for settlement and custody processes. It has 31 members and offers access to more than 24,000 fund classes one year after its launch in September 2007.
“We are proud to welcome Japan Wealth Management Securities, Inc. in CFFsays Philippe Seyll, head of Clearstream’s investment funds business. This agreement demonstrates that Clearstream’s innovative and efficient solutions to streamline the investment funds industry post trade processes are not limited to Europe.”