Axoni’s has raised a total $90 million, with existing investors Citi, Goldman Sachs, HSBC, JP Morgan and Wells Fargo also participating in the latest round.
The new business includes the combination of Clearstream’s existing Fund Desk and will service over $290 billion of assets under administration.
European asset managers in Ireland are faced with the challenge of moving to alternative ETF issuance and settlement models in order to limit the impact of Brexit.
The purchase and subsequent partnership with UBS marks another active move from Clearstream into bolstering its fund services offering.
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.
One of Morgan Stanley's most senior prime brokerage executives will retire at the end of 2019 having led the division since 2009.
Former UBS operations executive, Colin Parry, will lead the organisation from 1 September.
State Street, BNY Mellon and MUFG among those backing the tokenisation project aimed at transforming clearing and settlement.
Despite industry consensus that regulators need to introduce ESG rules, asset managers are urging them not to rush or be inflexible.
The French bank has made a number of senior recruitments with a focus on sales for UK and Middle East-based asset and alternative investment managers.