CLEARSTREAM OPENS HEDGE FUND PROCESSING CENTER IN DUBLIN (ENG)

     (The following press release from Deutsche Boerse was received by e-mail. 
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News Release
Deutsche Boerse Group
29.11.12 
Clearstream opens hedge fund processing center in Dublin 
Move follows increased customer demand for investments in hedge
funds/ 
New Clearstream base in Ireland is already fully operational with six
pilot customers/ 
Christian Westerholt General Manager of the Dublin branch 
Clearstream has established a branch in Dublin to extend its post-trade
offering in the area of investment funds to hedge funds. Clearstream
Banking
S.A., Dublin Branch, will extend the company’s investment funds business to 
alternative funds and allow Clearstream to service the entire range of
funds:
mutual funds, exchange-traded funds and hedge funds. The hedge fund
investor
services were set up following a steep increase in client demand for such
investments and will over time be fully integrated into Clearstream’s fund
processing environment. The new venture has already signed six pilot
customers.
Christian Westerholt, previously Head of Product Development in
Clearstream’s
Investment Fund Services area, will be the General Manager of the Dublin
branch. 
Michael Noonan TD, Ireland’s Minister for Finance, said: “The Financial
Services sector is a key driver of jobs in Ireland. I am delighted that
Clearstream has taken the decision to establish an operation centre for
servicing the investments into hedge funds in Dublin with the potential for 
more than 100 jobs. Ireland is a global hub for the funds industry and
today’s
announcement further enhances the range of services and companies located
in
Dublin. Once again the Industrial Development Agency, IDA Ireland, has done
an
excellent job in highlighting Ireland's attractiveness as a destination for 
investment from European companies. I would like to wish all at Clearstream 
every success.” 
Jeffrey Tessler, CEO Clearstream, said: “The new Dublin base broadens our
value
proposition in the investment funds spaces adding to our established
investment
funds base in Luxembourg. The new specialised unit based in Dublin will
provide
the operational capabilities for hedge fund services to customers around
the
world. The talented pool of expertise and the proximity to the hedge fund
industry have been the key drivers for our choice of Dublin. Our product
range
for investment funds will soon provide customers with a single, fully
automated
point of entry for routing orders to fund managers across all funds types.” 
Philippe Seyll, Head of Investment Funds Services and Member of the
Executive
Board of Clearstream, said: “Hedge funds are highly complex and diverse
instruments. Processing of hedge funds therefore requires a lot of manual
effort which comes at significant operational risk and involves cost that
are
approximately 100 times higher than for other fund types. Our aim is to
increase efficiency in the hedge funds processing space and to offer
investors
a superior value proposition at a better price. We also remain committed to 
further growing this business and creating new jobs in Ireland where we
have
now created 15 new positions.” 
The move to Ireland follows a steep increase in customer demand for
investments
in alternative funds such as hedge funds. The recent rebound of investments 
into these instruments and the more diversified investor base have lead to
an
increased demand from customers for a consolidated service covering both
automated and non automated funds. Clearstream has integrated such
instruments
into the existing process for mutual funds allowing customers to benefit
from a
high level of standardisation and features such as automated order routing, 
settlement and position reporting. Dublin has been chosen to locate the new 
service because it is one of the leading global centres for hedge fund
administration. 
About Clearstream 
With over 100,000 investment funds on its order routing platform Vestima
and
more than 7 million settlement instructions processed every year,
Clearstream
is one of the leading providers of investment funds services world-wide.
The
company is also the largest contributor to the standardisation of funds
processing world-wide. 
As an international central securities depository (ICSD) headquartered in
Luxembourg, Clearstream provides the post-trade infrastructure for the
Eurobond
market and services for securities from 53 domestic markets worldwide.
Clearstream’s customers comprise approximately 2,500 financial institutions
in
more than 110 countries. Its services include the issuance, settlement and
custody of securities, as well as investment fund services and global
securities financing. With more than 11 trillion Euros in assets under
custody,
Clearstream is one of the world’s largest settlement and custody firms for
domestic and international securities. 
As a central securities depository (CSD) based in Frankfurt, Clearstream
also
provides the post-trade infrastructure for the German securities industry,
offering access to a growing number of markets in Europe. 
Further information: www.clearstream.com 
Media contact 
Nicolas Nonnenmacher, +352-243-36115
nicolas.nonnenmacher@clearstream.com 
Further information from Deutsche Boerse Group
is available under http://deutsche-boerse.com/press
Mailto:Media-Relations@deutsche-boerse.com. 
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