SIX Securities Services and Euroclear Bank are to partner to provide more cost- and risk-efficient fund services to Swiss investors.
Under the cooperation agreement, the pair say that clients will benefit from enhanced service quality andprocessing efficiencies that SIX and Euroclear are delivering by bringing together order routing and unit settlement on a single platform for all types of fund transactions. The products offers "specialist hedge fund know-how" and integrated reporting across asset classes. "This open-architecture cooperation between two infrastructure powerhouses comes at a time when regulatory changes likeMifid II, AIFM directive and Ucits V, are pushing our industry towards greater processing certainty, asset protection and related portfolio transparency."Tim Howell, CEO of Euroclear said. Clients of both SIX and Euroclear will benefit from market proximity and significant cost savings through processing standardisation and the reduction of risk through the straight-through processing of transactions. "This is, effectively, two partners you can trust – delivering services out of one hand," said Thomas Zeeb, CEO of SIX Securities Services.
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