Credit Suisse Fund Services (Luxembourg) has joined LuxCSD, becoming the first transfer agent (TA) based in Luxembourg to do so. The move makes more than 1,500 investment fund share classes available for delivery versus payment (DVP) settlement in central bank money. Credit Suisse says that the migration will offer benefits to investors, such as reduced settlement risk through direct access to central bank money.
LuxCSD’s link to Clearstream’s investment funds order routing platform means that these funds are available to both domestic and international counterparties. The link to Clearstream is for both market models: the current (I)CSD/TA and the future TARGET2-Securites (T2S) model. There is a growing demand from distributors and investors to facilitate settlement through a T2S based account.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
The dollar failed to recover against other major currencies on Monday following Friday’s disappointing US employment data announcement. This was coupled with ... read more
India's gross domestic product (GDP) growth failed to meet expectations in Q2 as it slumped to 5.7%. However, India's IT industry is thriving. It contributes roughly 10% to the country's GDP and makes up about 25% of exports.
The world’s second-biggest economy will grow faster than previously predicted over the next four years, but the rate is unsustainable unless China addresses the problem says the International Monetary Fund.