SIX Securities Services has signed a cooperation agreement with Euroclear Bank to provide cost- and risk efficient fund services to Swiss investors.
As part of the initiative, SIX and Euroclear will provide enhanced service quality and processing efficiencies by merging order routing and unit settlement on a single platform for all types of fund transactions.
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Additionally, the partnership will also enable mutual clients to benefit from market proximity in addition to providing an option to open segregated accounts.
The agreement will also offer significant cost savings through processing standardization and the reduction of risk via direct processing of transactions.
Tim Howell, CEO of Euroclear, said: "This open-architecture cooperation between two infrastructure powerhouses comes at a time when regulatory changes like MiFID II, AIFMD and UCITS V, are pushing our industry towards greater processing certainty, asset protection and related portfolio transparency."
Thomas Zeeb, CEO of SIX Securities Services: "This is a demonstration of our long-term commitment to this market and capitalizes on our deep understanding of client needs as well as our specialist hedge fund expertise."
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