Clearstream veteran Miriam Marascio has joined CloudMargin to oversee onboarding, support and relationships with clients.
The investment from the four firms will help strengthen the FundsDLT platform and accelerate its commercial development.
Clearstream’s licence was granted by the German Federal Financial Services Authority BaFin and is effective immediately.
The purchase and subsequent partnership with UBS marks another active move from Clearstream into bolstering its fund services offering.
Clearstream launched its fund distribution support service following the completion of its acquisition of the Swisscanto Fund Centre business.
The new connection aims to facilitate cross-border settlement in TARGET2 Securities (T2S) markets, giving easier access to Baltic securities.
The project has been lauded by industry experts, and HQLAx founder Guido Stroemer was included in Global Custodian’s 30 to Shape the Future list.
Clearstream went live with the InvestorCSD model last year with the aim of providing banks a single access point to both T2S and its ICSD services.
One of the main goals of the new technologies is to automate internal tasks and workflow processes.
Euroclear Bank will be able to offer clients the choice between euro settlement in both commercial bank and central bank money.