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
Microtechnology industry is hiring – positive developments of past years continue
09.04.2018 | IVAM Fachverband für Mikrotechnik
RWI/ISL-Container Throughput Index with minor decline on a high overall level
20.03.2018 | RWI – Leibniz-Institut für Wirtschaftsforschung
In a recent publication in the renowned journal Optica, scientists of Leibniz-Institute of Photonic Technology (Leibniz IPHT) in Jena showed that they can accurately control the optical properties of liquid-core fiber lasers and therefore their spectral band width by temperature and pressure tuning.
Already last year, the researchers provided experimental proof of a new dynamic of hybrid solitons– temporally and spectrally stationary light waves resulting...
Scientists from the University of Freiburg and the University of Basel identified a master regulator for bone regeneration. Prasad Shastri, Professor of...
Moving into its fourth decade, AchemAsia is setting out for new horizons: The International Expo and Innovation Forum for Sustainable Chemical Production will take place from 21-23 May 2019 in Shanghai, China. With an updated event profile, the eleventh edition focusses on topics that are especially relevant for the Chinese process industry, putting a strong emphasis on sustainability and innovation.
Founded in 1989 as a spin-off of ACHEMA to cater to the needs of China’s then developing industry, AchemAsia has since grown into a platform where the latest...
The BMBF-funded OWICELLS project was successfully completed with a final presentation at the BMW plant in Munich. The presentation demonstrated a Li-Fi communication with a mobile robot, while the robot carried out usual production processes (welding, moving and testing parts) in a 5x5m² production cell. The robust, optical wireless transmission is based on spatial diversity; in other words, data is sent and received simultaneously by several LEDs and several photodiodes. The system can transmit data at more than 100 Mbit/s and five milliseconds latency.
Modern production technologies in the automobile industry must become more flexible in order to fulfil individual customer requirements.
An international team of scientists has discovered a new way to transfer image information through multimodal fibers with almost no distortion - even if the fiber is bent. The results of the study, to which scientist from the Leibniz-Institute of Photonic Technology Jena (Leibniz IPHT) contributed, were published on 6thJune in the highly-cited journal Physical Review Letters.
Endoscopes allow doctors to see into a patient’s body like through a keyhole. Typically, the images are transmitted via a bundle of several hundreds of optical...
13.06.2018 | Event News
08.06.2018 | Event News
05.06.2018 | Event News
22.06.2018 | Materials Sciences
22.06.2018 | Earth Sciences
22.06.2018 | Life Sciences