SIX chooses Clearstream to consolidate fund processing

SIX will consolidate fund processing with Clearstream’s Vestima platform.

By Joe Parsons

SIX has partnered with Clearstream to consolidate all of its fund processing activities with the CSD’s Vestima platform.

Vestima, Clearstream’s investment fund processing infrastructure, enables processing of all funds, including mutual funds and hedge funds, on a single platform. 

“The collaboration will create high operational synergies in investment fund processing for both sides,” said Philippe Seyll, co-CEO, Clearstream Banking. 

“SIX will profit from our one-stop-shop portal as well as robust and proven infrastructure. This will enable SIX to foster efficiencies for underlying clients and scale their investment fund businesses.”

The partnership marks the latest expansion for Clearstream’s Vestima platform, which has signed up banks including Northern Trust, Belgium’s bank Degroof Petercam, Swiss bank Edmond de Rothschild and Bank Vontobel, as well as the Korean Securities Depository (KSD).

SIX had previously entered into a fund services partnership with Euroclear in 2014, which would bring together order routing and unit settlement on a single platform for all types of fund transactions. 

“Partnering with an organisation that places the same focus on operational integrity and efficiency as SIX was a critical requirement for us when conducting a review of our primary fund provider,” said Thomas Zeeb, head of securities and exchanges, SIX.