Clearstream announced that Banco Bilbao Vizcaya Argentaria (BBVA) has signed up to implement the innovative new investment service called Vestima+. BBVA is Spains biggest bank and has been a strong proponent of the open architecture model that is a key element of Clearstreams new service. Clearstream launched the Vestima+ service as planned on 24 January 2005.
The Vestima+ service is targeting the costly order processing difficulties within the industry and delivers a new form of market infrastructure that delivers high straight-through processing (STP) rates and enables participants to choose their own post-trade infrastructure. Through using the Vestima+ service BBVA foresees direct operational efficiency benefits.
The service is initially targeting the differing needs of each of Europes main domestic markets beginning with France and Germany and the international market centered in Luxembourg and Ireland, and will provide a single solution for multiple fund markets.
Numerous market participants have opted to adopt Vestima+ as the flexibility enables selection of their preferred settlement routes and custody providers. The key evolution is the order-routing platform that delivers high STP rates and enables customers to settle delivery-versus-payment (DVP) from their existing accounts wherever they are located.
Roberto Vicario, Deputy General Manager, BBVA stated, "Clearstreams Vestima+ service is the only available solution that meets our STP needs with high flexibility. It will enable us to speed up our time to market by using an easy to implement hub for our international fund distribution business. We see the benefits accruing from increased STP rates close to 100 percent and a reduction of the multiplicity of bilateral connections to a continually increasing number of fund management companies."
Volker Potthoff, Managing Director Banking & Custody Services at Clearstream added, "We welcome BBVA as a fund distributor joining our new Vestima+ fund service. We strongly believe that the fund market needs the same level of automation, security in settlement and traceability that other securities markets enjoy. By combining our Vestima+ flexibility with customers existing systems, we are enabling our customers to reach that goal and maximise the benefits."
Yolande Theis and Graham Cope will be happy to answer questions from the news desks: phone +352 243 31500
Media Relations | Deutsche Boerse Group
Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO
Europe's microtechnology industry is attuned to growth
10.03.2017 | IVAM Fachverband für Mikrotechnik
An international team of physicists has monitored the scattering behaviour of electrons in a non-conducting material in real-time. Their insights could be beneficial for radiotherapy.
We can refer to electrons in non-conducting materials as ‘sluggish’. Typically, they remain fixed in a location, deep inside an atomic composite. It is hence...
Two-dimensional magnetic structures are regarded as a promising material for new types of data storage, since the magnetic properties of individual molecular building blocks can be investigated and modified. For the first time, researchers have now produced a wafer-thin ferrimagnet, in which molecules with different magnetic centers arrange themselves on a gold surface to form a checkerboard pattern. Scientists at the Swiss Nanoscience Institute at the University of Basel and the Paul Scherrer Institute published their findings in the journal Nature Communications.
Ferrimagnets are composed of two centers which are magnetized at different strengths and point in opposing directions. Two-dimensional, quasi-flat ferrimagnets...
An Australian-Chinese research team has created the world's thinnest hologram, paving the way towards the integration of 3D holography into everyday...
In the race to produce a quantum computer, a number of projects are seeking a way to create quantum bits -- or qubits -- that are stable, meaning they are not much affected by changes in their environment. This normally needs highly nonlinear non-dissipative elements capable of functioning at very low temperatures.
In pursuit of this goal, researchers at EPFL's Laboratory of Photonics and Quantum Measurements LPQM (STI/SB), have investigated a nonlinear graphene-based...
Dental plaque and the viscous brown slime in drainpipes are two familiar examples of bacterial biofilms. Removing such bacterial depositions from surfaces is...
23.05.2017 | Event News
22.05.2017 | Event News
17.05.2017 | Event News
23.05.2017 | Physics and Astronomy
23.05.2017 | Life Sciences
23.05.2017 | Medical Engineering