Luxembourg’s state-owned bank Spuerkeess has announced its decision to partner with post-trade services provider Clearstream 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.
By leveraging Clearstream’s 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, commented:
“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”.
