Euroclear, the Brussels-based central securities depositary that has been expanding its post-trade processing operations for funds into Asia, reports a 12% growth in fund assets under custody for 2015.
The company said this was “good progress” in its fund strategy and says that Euroclear is “increasingly regarded as the place for funds”.
Euroclear offers post-trade services, such as settlement, for securities and – through its FundSettle unit – for funds. Its main competitor is Clearstream, which offers the Vestima infrastructure for cross-border funds.
The value of funds serviced by FundSettle increased 17% over the prior year, and the volume of fund transactions processed by the group grew 9% to reach 22 million.
Last year Euroclear began to expand its funds network outside of Europe, opening an account with the Central Moneymarkets Unit of Hong Kong’s Central Securities Depositary, to provide Euroclear Bank clients with access to China-domiciled funds and Hong Kong-domiciled funds. In Europe, where Euroclear is one of the largest providers of fund processing services, there are 12 million orders routed through it platforms annually.
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