Wealth management platform FNZ and Clearstream, Deutsche Börse Group’s post-trade services provider, said that they have agreed a strategic partnership that will help asset managers get a better view of information required for the distribution of investment information.
Currently, investment distribution information is fragmented and there is very little connectivity across the industry, meaning asset managers need to seek information from wherever they distribute funds. FNZ and Clearstream said their cooperation will make it possible to launch a new leading-edge business intelligence solution for European asset managers.
The new solution will provide asset managers with the global and regional intelligence they require to analyse market trends, better understand behavior, improve decision making around fund distribution, and ultimately deliver stronger business, customer and regulatory outcomes.
Increasing transparency
“The partnership and our newly unveiled business intelligence solution will allow us to significantly enhance our support for asset managers by dramatically increasing transparency across the entire industry,” said Adrian Durham, CEO at FNZ Group, said in a statement. “This will help us to deliver significant operational efficiencies, reduce friction and enhance the customer experience.”
“The new collaboration perfectly contributes to Clearstream’s endeavour to foster efficiency of financial markets, by providing high-quality data, state-of-the-art IT infrastructure and innovative services for market participants worldwide,” said Philippe Seyll, CEO at Clearstream Banking.
With some 4000 employees in 21 countries, FNZ offers its services to some 650 financial institutions and more than 8,000 wealth management firms. Clearstream, as an international central securities depository headquartered in Luxembourg, is part of Deutsche Börse Group and has some 16 trillion Euro in assets under custody. It provides post-trade infrastructure for the Eurobond market and services for securities from 59 domestic markets worldwide. Its fund distribution platform Fund Centre provides access to over 72,000 funds domiciled in 25 fund jurisdictions.
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