The decade-long building and implementation of the pan-European settlement system came under fire at the Sibos expo in Sydney as market participants face up to the realities of the project.
New tokenised collateral system will make a ‘winner out of everyone’ as backers eye ambitious expansion
Tokenised collateral mobility system eyes expansion into cash and new regions ahead of market adoption at the end of the year.
The collaboration is the latest for Clearstream’s Asia funds strategy allowing more international investors to gain easy access to the local fund markets.
The investment expands the partnership with HQLAx established in March this year, with the aim of building a blockchain-based solution for securities lending transactions.
The scope of the services will include order execution, settlement and asset servicing for its mutual and hedge funds.
SIX will consolidate fund processing with Clearstream’s Vestima platform.
The agreement will enable greater opportunities for real-time collateral mobilisation, as well as straight-through processing across asset classes.
Jeffery Tessler, the former Clearstream CEO who has been a part of the executive board since 2004, will step down in July.
The deal allows Clearstream to expand its funds services to include management of distribution contracts and data processing.
The new account will bring around 80% of the custody and settlement volume of T2S markets onto Clearstream’s Investor CSD services.