Clearstream acquires NAB’s Ausmaq
Clearstream, the post-trade services provider of Deutsche Boerse, has acquired Ausmaq from National Australia Bank (NAB) following regulatory approval, allowing the firm to enter the domestic funds market.
In 2020, Clearstream would connect international and Australian markets via its automated fund processing platform Vestima, allowing Ausmaq customers to benefit from access to international and alternative funds on the Clearstream global fund network.
It will also allow existing Clearstream customers greater access to Australian funds.
Bernard Tancré, head of investment fund services at Clearstream, described the acquisition as the ‘perfect opportunity’ for the firm.
“The acquisition of Ausmaq is the perfect opportunity to broaden our network to include the Australian domestic market. By integrating our Vestima offering and Ausmaq’s services, we will be able to provide Australian custodian banks, wrap platforms and wealth managers with our proven international services.”
Ravi Subramaniam, chief executive of Ausmaq, said: “We are excited to join an internationally renowned post-trading company like Clearstream. This will provide Ausmaq’s existing and future domestic customers with a broader suite of investment opportunities and likewise provide Clearstream’s customers with direct access to the thriving Australian managed funds market.”
AUTHOR
Laura Dew
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