Clearstream, Deutsche Börse Group’s post-trading services provider, today announced it has selected Finomial’s client lifecycle management technology to automate trade documentation completion for alternative investments, including hedge funds and private equity.
As an alternative funds custodian specialising in alternative investments, Clearstream places trades with over 40,000 hedge funds across 45 jurisdictions globally.
With over US$1.5 trillion in alternative assets serviced on its software platform across the globe, Finomial automates client on-boarding, comprehensive due diligence, and global regulatory reporting in a rapidly changing compliance environment
Finomial’s platform drives efficiency and transparency in what has historically been a labour-intensive, paper-based process required for investing in alternatives. From the end of 2020, Clearstream’s clients will benefit from fully automated trade documentation completion, a client interface to automate collection and provision of individual customer declarations, reducing risk and delivering greater investor transparency.
“The alternative investments industry has been marked by highly individualised, cumbersome and manual processes. State-of-the-art technology can help change that. With Finomial we found a perfect provider to make processes more efficient for our clients,” said Philippe Seyll, head of investment fund services and CEO of Clearstream Banking S.A.
“Due to Clearstream’s scale in the industry, Finomial’s technology will help automate hedge fund subscriptions and private equity capital commitments for over 1.5 trillion euros in assets of the 10 trillion alternatives market,” said Meredith Moss, CEO at Finomial.
“As Clearstream continues to gain market share, we are excited to support them to further automate private funds investing,” she added.
As an International Central Securities Depository (ICSD), Clearstream, which is part of Deutsche Börse Group, provides the post-trade infrastructure for the Eurobond market and services for securities from 58 domestic markets worldwide. With around 14 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities.