Custodians are aiming to evolve their outsourcing business model and leverage new technology to accommodate front-office solutions.
The French bank has onboarded eight clients across Europe onto its front-to-back outsourcing platform CrossWise.
Clearstream expects the closure of the business will take place over a 18-month period.
Fillmore Advisors will become part of the recently-established prime brokerage division at INTL FCStone, as it looks to expand on outsourced trading for hedge funds.
Global custodians are increasingly seeking to evolve their business models, which have traditionally centred on the back-office, to include front-office services.
The fine by the Central Bank of Ireland represented its first against a fund administration firm in relation to outsourcing failures.
SS&C has reported 20 of its largest clients have outsourced some or all of their operational functions to the tech giant over the past two years.
The acquisition is an extension of MUFG Investor Services’ partnership it signed with Point Nine last year.
Wells Fargo has unveiled its new prime trade service group with access to high- and low-touch outsourced trading functions, coupling it with other prime services.