21 October 2017

Ixis signs up for Clearstream's Vestima+

18 October 2004  |  3288 views  |  0 Clearstream

French asset manager Ixis is to implement Clearstream's Vestima+ service for automating cross-border funds distribution.

Ixis, a subsidiary of Caisse d'Epargne, says it will implement the fully automated Vestima+ service to receive fund orders coming from Clearstream's customers that wish to gain access to French domestic funds. Vestima+ will communicate with Ixis using Swift messages and utilise the specific template issued by the French Fund Market Practice Group (FFPMG).

Jean-Marc Eyssautier, head of operations for custody and banking services at Ixis in Paris states: "The European fund industry is desperately lacking automation for fund transactions in the areas of both order processing and secured settlement. By combining the Vestima+ service with Swift communication standards and a true DVP process, Ixis will provide our customers with a very secure way of distributing their funds outside of France."

Scheduled for launch in January, the Vestima+ service is initially targeting the differing needs of each of Europe's main domestic markets beginning with France and Germany and the international market centred in Luxembourg

Bruno Zutterling, director for investment fund services at Clearstream says of the Ixis agreement: "By complying with French market practices, Clearstream enables fund distributors to access domestic markets as transparently as international ones. This highlights the value added by Vestima+ as an order processing hub adopting a multi-domestic approach."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Clearstream to launch pan-European funds platform

Clearstream to launch pan-European funds platform

15 January 2004  |  3885 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.sibos.comvisit www.fivedegrees.nl

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8930 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8668 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7737 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7218 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6829 views comments | 14 tweets | 23 linkedin

Featured job

London, UK (or flexible)

Find your next job