Clearstream’s investment funds strategy for Latin America strengthens with Latin Clear joining Vestima


Clearstream’s investment funds strategy for Latin America strengthens with Latin Clear joining Vestima
Latin Clear Panama as central hub for investment funds across Latin America to use Clearstream’s post-trade solution Vestima/ International investors can now gain easy access to Panama-domiciled funds through Clearstream/ Regulatory changes: markets in Latin America open up for offshore funds
17. July 2013
Clearstream: Clearstream has taken an important step in strengthening its ties with Latin American financial markets by signing Latin Clear Panama as the first transfer agent (TA) to join its investment funds platform, Vestima. Accordingly, in the course of July 2013, investment funds domiciled in Panama will be eligible for order routing, settlement and custody at Clearstream.

The Vestima suite of services will bring increased operational efficiency and security benefits to the Latin American financial markets by providing centralised delivery versus payment (DVP) settlement services based on synchronous exchange of cash and securities between fund distributors and transfer agents.

Philippe Seyll, Member of the Executive Board of Clearstream and Head of Investment Funds Services, said the cooperation with Latin Clear and the migration of Panama domiciled funds to Vestima was key in light of the company’s Latin America funds strategy as it allowed international investors to gain easy access to these financial instruments.

“We are pleased to welcome the first TA in Panama, a major domicile for cross-border distribution of investment funds in Latin America, where markets are gradually opening up to offshore funds,” he said. “Our objective is to become a partner of choice for the financial institutions in the region that wish to enhance their investment funds offering.”

Clearstream is headquartered in Luxembourg which has more than EUR 2,500 billion (April 2013) assets under management in investment funds. Luxembourg is the second-largest funds market in the world after the US. Currently, more than 3,800 collective investment schemes are administered in and distributed from the Grand Duchy.

About Clearstream

Clearstream is one of the leading providers of investment funds services globally. It has more than 120,000 investment funds on its Vestima order routing platform and more than 7 million fund settlement instructions are processed every year. The company is also the largest contributor to the standardisation of funds processing worldwide.

Clearstream holds EUR 11.6 trillion in assets under custody making it one of the world’s largest settlement and custody firms for domestic and international securities. As an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 53 domestic markets worldwide. Clearstream’s customers comprise approximately 2,500 financial institutions in more than 110 countries. Its services include the issuance, settlement and custody of securities, as well as investment fund services and global securities financing.

About Latin Clear

Latin Clear is acting as central hub for Latin America as it has established settlement links to other markets in the region, such as Costa Rica, Nicaragua, El Salvador and Venezuela. Access to the Dominican Republic is in progress.

Panama is currently attracting an increasing number of international investors because of its stable government and the size of its financial sector. It is the largest international banking centre in Latin America with more than 150 banks from more than 35 countries and offers easy access to other Latin American markets.

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About carlarweir
I am a Cross Asset FIX Connectivity SME working for international banks. i also sit on the FIX Protocol Ltd Global Steering Committee, and am Co-Chair of the Global Cross Asset Committee. I also have a very strong background in Mobile Telephony, Cloud computing, SaaS, IaaS, PaaS, Big Data, innovation, and am a pioneer in Pseudolite technology.

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