Korea Securities Depository (KSD) and Clearstream have signed a memorandum of understanding (MOU) which links KSD’s FundNet and Clearstream’s global funds processing platform Vestima.
FundNet is an infrastructure which processes all fund related operations from creation to expiration KSD and Clearstream agreed to implement the system linkage in 2014 and start offering extended services to support cross-border fund distribution (direct and indirect distribution).
Mr. O Moon, Kwon, senior managing director, KSD, says: “The partnership with Clearstream will significantly enhance our cross-border investment fund distribution capabilities. In response to the diverse investment needs of customers we decided to establish a link with Vestima, the largest global
fund processing platform which covers more than 120,000 investment funds. With this move we also promote lower costs and higher efficiency for our domestic Korean asset management industry.”
Philippe Seyll, member of the Executive Board and head of Investment Funds Services at Clearstream, said the cooperation with KSD and the migration of Korea-domiciled funds to Vestima in 2014 is a key milestone of our Asia funds strategy as it allows international investors to gain easy access to these
financial instruments. “We are pleased about the new link to KSD and the Korean investment funds market, a major domicile for investment funds in Asia, where markets are gradually opening up to offshore funds,” says Seyll.
Korean CSD and Clearstream Sign MoU to Co-operate on Cross-border Fund Processing
Korea Securities Depository (KSD) and Clearstream have signed a memorandum of understanding (MOU) which links KSD’s FundNet and Clearstream’s global funds processing platform Vestima.
« Spanish Asset Manager Chooses Markit for Enterprise Data Management