On September 23rd, 2019, Clearstream Banking and the Stock Exchange of Thailand (SET) teamed up to launch a link for investment funds. Clearstream is an international central securities depository. The partnership will enable cross-border funds transactions to be completed.
In particular, the new link will be between the mutual fund platform FundConnext (SET) and Clearstream’s global fund processing platform called Vestima. The link enables investors around the world to access the Thai mutual fund market.
The Thai funds market has reached new levels, as it has around EUR 119 billion in AUM. On the other hand, Thai investors can access more than 185,000 investment funds in around 50 different jurisdictions thanks to Clearstream’s Vestima.
This is what the President of SET, Mr. Pakorn Peetathawatchai, commented that the linkage increases the automated capabilities for international investment fund distribution between the world and Thailand. The lower cost, efficiency and ease of access are all what make FundConnext a leader in Thailand and a top choice for investors around the world, according to Mr. Peetathawatchai.
Cleastream is part of the Deutsche Börse Group, and is headquartered in Luxembourg. The international central securities depository provides securities services from more than 55 markets worldwide. Clearstream is actually one of the world’s largest custody and settlement companies for international and domestic securities.
Bernard Tancré, who is the Head of Investment Funds Services at Clearstream, said:
…..The connection between Clearstream’s Vestima and SET’s FundConnext will enhance access to Thai and international funds for domestic and global market participants.