Deutsche Boerse’s Clearstream Acquires Swisscanto Funds Centre

[kreslik.news]

Deutsche Boerse’s settlement arm Clearstream has expanded its offering ‎in the funds space by acquiring Swisscanto Funds Centre, the UK ‎subsidiary of Zurich-based financial group Swisscanto.‎

Clearstream, a provider of post-trade services for financial ‎services participants, agreed to buy 100 percent of SFCL business ‎from Zürcher Kantonalbank. Deutsche Börse-owned international central securities depository has paid a sum in “the high double digit million ‎euro range”, the company said in a statement on Monday.

No further ‎financial details of the transaction were disclosed.‎

Under the terms of the deal, all London-based employees of SFCL will ‎transfer to Clearstream, doubling the size of the settlement ... (read more)