Spuerkeess selects Clearstream for fund execution and distribution services
Luxembourg’s leading state-owned bank, Spuerkeess has announced its decision to partner with Clearstream, the leading global post-trade services provider, for the execution and distribution of its investment fund business.
The move underscores the shared heritage and identity of the institutions, both of which are headquartered in Luxembourg, the heart of Europe’s fund industry.
By leveraging Clearstream’s market-leading trade dealing and execution platform, Vestima, Spuerkeess aims to consolidate its mutual and alternative funds businesses, thereby enhancing operational efficiency and cost-effectiveness. This collaboration is expected to provide Spuerkeess with the highest standards of asset safety and streamlined fund processing operations, including trading, post-trading, and trailer fees. Additionally, Spuerkeess will gain access to Clearstream’s extensive suite of services, including fund data services, providing it with a one-stop-shop in its home country.
Philippe Seyll, CEO of Clearstream Fund Services in Luxembourg expressed his enthusiasm: “We warmly welcome Spuerkeess as a valued client. We are delighted that the bank, a fellow cornerstone institution in Luxembourg, is placing its trust in Clearstream Fund Services. The partnership is a testament to our mutual pride in Luxembourg and our commitment to service excellence. With our one-stop shop for investment funds, Clearstream can ensure streamlined, efficient and safe processing and distribution services for all fund types.”
Aly Kohll, Deputy CEO and member of the executive committee at Spuerkeess, added: “Clearstream’s proven track record and comprehensive service offering from subscription to execution, settlement, custody and trailer fee collection will allow Spuerkeess to enhance operational efficiency and cost-effectiveness. We firmly believe this will in turn help us to offer a more efficient and cost-effective service for our clients”.
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[Editorial note: Please find here a high-resolution photo of Philippe Seyll and a high-resolution photo of Aly Kohll]
About Clearstream Fund Services
Clearstream is the innovative and trusted post-trade business for the global markets. Its segment Clearstream Fund Services delivers solutions for the entire fund ecosystem.
Vestima is the world’s largest fund processing platform providing order execution, settlement and custody services for more than 230,000 funds, ensuring highest asset safety for over 55 fund markets worldwide.
As a global fund distribution platform, Clearstream Fund Services connects international asset managers and fund houses with a global network of distribution partners. It gives access to over 80,000 funds, with value-added services such as trailer fee management and compliance oversight.
Clearstream Fund Services provides premier data management, regulatory and disclosure solutions for the asset management industry and embraces new technologies to help reshape how funds are managed and distributed.
Clearstream is part of Deutsche Börse Group, an international exchange organisation and provider of innovative market infrastructures.
To learn more, visit us at www.clearstream.com or connect via LinkedIn.
About Spuerkeess
Since its foundation in 1856, Spuerkeess has been solely owned by the Luxembourg State. The statutory missions of the Bank consist in promoting savings, facilitating access to housing and supporting the development of the national economy. Today, Spuerkeess is the leader in both the retail banking and domestic SME markets and is a universal and systemic bank, recognised well beyond the borders of the Grand Duchy of Luxembourg.
The international rating agencies have awarded Spuerkeess AA+ (Standard & Poor's) and Aa2 (Long term Deposit Rating, Moody's) ratings. The magazine Global Finance ranks Spuerkeess among the safest banks in the world and has recognised it for many years with the "Safest Bank Award - Luxembourg". In 2021 and 2022, the magazines The Banker and Global Finance named Spuerkeess "Bank of the year 2021 - Luxembourg" and "Sustainable Finance 2022 – Country Award" respectively.
For more information, visit www.spuerkeess.lu.