Today, Deutsche Börse’s post-trade services provider Clearstream completed the acquisition of Ausmaq Limited from National Australia Bank (NAB), following receipt of approval from the Luxembourgish regulatory authorities.
With the addition of the Sydney-based managed funds custodian Ausmaq, Clearstream is entering the domestic Australian funds market. The future set-up of Ausmaq within Clearstream’s Investment Fund Services business will be designed to directly serve Australian customers within the same region and time zone.
In 2020, Clearstream will also connect international and Australian market participants via its fully automated fund processing platform Vestima. Ausmaq’s customers will benefit from access to international and alternative funds via Clearstream’s global fund network. Clearstream’s existing customers will benefit from stronger access to Australian funds.
Bernard Tancré, Head of Investment Fund Services at Clearstream, said: “The acquisition of Ausmaq is the perfect opportunity to broaden our network to include the Australian domestic market. By integrating our Vestima offering and Ausmaq’s services, we will be able to provide Australian custodian banks, wrap platforms and wealth managers with our proven international services.”
Ravi Subramaniam, Chief Executive Officer of Ausmaq, said: “We are excited to join an internationally renowned post-trading company like Clearstream. This will provide Ausmaq’s existing and future domestic customers with a broader suite of investment opportunities and likewise provide Clearstream’s customers with direct access to the thriving Australian managed funds market.”