Source: Deutsche Boerse
The number of transactions processed on Vestima+, Clearstream's electronic order routing service for the investment funds industry has more than doubled since its launch, a year ago in January 2005.
Vestima+ is the automated funds order routing service pioneered by Clearstream and the only available system offering free choice of settlement and custody routes. It is aimed at reducing the costs and difficulties of order processing within the investment funds industry. Vestima+ enables participants from Europe's main domestic markets to Vestima+ select their preferred settlement routes and custody providers from a single entry point, allowing them to route their orders to transfer agencies (TAs) using electronic media like an internet-based workstation or SWIFT messages.
Vestima+ can be used for third party as well as internal order flows. Clearstream's order-routing platform delivers high STP rates and enables customers to settle delivery-versus-payment (DvP) or free of payment (FoP) from their existing accounts wherever they are located.
An increasing number of market participants have adopted Vestima+ for its open architecture and flexibility since its launch in January 2005. The volume of investment fund related instructions processed by Clearstream has grown by 103% and the depot business for funds has increased by 80%. More than 16000 investment funds traded on a regular basis are already available on Clearstream's Vestima+ and a steady stream of organizations has signed up for the service throughout the last year. This trend will continue in 2006 and will create important automated volumes in domestic markets as Vestima+ allows for cost efficiency benefits of up to 50%.
Philippe Seyll, Head of Clearstream International Investment Funds services stated, "The success of Vestima+ is the success of a collaborative process of working with market participants to create a solution that meets their needs. As a result, the service is open, unique and innovative and delivers cost efficiency where our customers need it most. Building on last year's excellent results we look forward to expanding Vestima+ market coverage in 2006 as well as providing new innovative solutions for the investment funds industry."