Euroclear Bank and Korea Securities Depository (KSD) has signed a bilateral agreement whereby KSD will establish a link to Euroclear Bank’s FundSettle platform, the automated, multi-currency fund-transaction processing solution. KSD will adopt FundSettle as part of its fund-processing infrastructure.
Euroclear Bank and KSD will also work together to develop KSD’s multi-currency, cross-border investment fund distribution system, exchanging relevant information and organising cross-entity training programmes.
Soo-Hwa Lee, chairman and chief executive officer (CEO) of KSD, said: “KSD is a transfer agent for all Korean-domiciled investment funds, connecting to local fund distributors and trustees. The link with FundSettle will enable Korean investors to use KSD as the centralised access point to invest in international funds. Transactions will be processed on a straight-through basis, involving no manual processing, which means at low risk. Processing and asset servicing costs will also be low due to the economies of scale that KSD, as the central agent, will be able to offer our clients. As a result of this initiative, we expect a substantial increase in STP rates from close to zero to more than 90% for cross-border investment fund processing.”
Euroclear Bank launched a link with Korea Securities Depository in October 2009 to offer settlement, custody and related services for Korean treasury bonds and monetary stabilisation bonds. Euroclear and KSD also signed a memorandum of understanding (MoU) in 2009 to explore how best to co-operate in supporting international clients active in the Korean capital markets and Korean entities interested in the wide range of markets covered by Euroclear Bank.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more