CACEIS carried out the migration process involving 26 Luxembourg law sub-funds accounting for some €10 billion in assets.
The partnership will combine Amundi’s portfolio management system with CACEIS’ middle- and back-office services for a broad front-to-back outsourcing platform.
Fund administrators in Europe are hoping to capitalise on the rush to ETF strategies among asset managers and institutional investors .
Nearly half of pension fund managers surveyed by CACEIS felt there were not properly equipped to monitor their ESG activities to a high standard.
The aim for the new CSD is to provide a harmonised platform for the issuance, trading, settlement and custody for commercial paper.
TEEPI’s developments have been made in collaboration with a group of pilot clients, and the platform will continue to develop throughout 2019.
Industry experts argued further consolidation in the custody industry could be likely, but doubted it will happen within the next 12 months to five years.
The combination with Santander expands CACEIS' reach to Spain and Latin America, giving the combined unit €5.1 trillion in AuC/A.
The Dutch market is known to be the home of some of Europe’s largest pension funds, as well as leading private equity and real estate funds.
CACEIS acts as the main custodian and administrator for many of the money market funds in the French market.