Luxembourg-based Clearstream, an international central securities depository and a supplier of post-trading services for the financial industry, has chosen Itesoft’s Itesoft.FreeMind for Business and Itesof.Share to automate capturing and processing of client investment fund transactions.
Clearstream, a subsidiary of the Deutsche Borse Group, offers international securities services to a global network of 42 domestic markets. Previously, Clearstream had adopted Vestima+, a global automation system, to reduce costs and improve processing efficiency in investment fund management.
Christian Westerholt, product manager at Clearstream, said: At that time, Vestima+ was not able to handle client order confirmations sent by fax. However, a high number of transactions in the investment industry are carried out by fax or telephone. Our Vestima+ product needed an automated solution to fill in this major gap and integrate into the overall existing full straight through processing (STP) system. This solution was to allow us to offer to our clients an easy entry and simple upgrade path towards more structured communications while maintaining reasonable STP levels.