The post-trade settlement arm of German financial markets provider Deutsche Boerse, Clearstream, has acquired Swisscanto's UK-based Funds Centre from current owner Zürcher Kantonalbank. The sale, for an undisclosed sum, will involve all Swisscanto Fund Centre's London staff transferring to Clearstream. Deutsche Börse-owned international central securities depository has paid a sum in “the high double digit million ‎euro range”, the company said in a statement on Monday. Clearstream is a subsidiary of the Swiss bank UBS AG and was founded in 2000.
The post-trade settlement arm of German financial markets provider Deutsche Boerse, Clearstream, has acquired Swisscanto's UK-based Funds Centre from current owner Zürcher Kantonalbank. The sale, for an undisclosed sum, will involve all Swisscanto Fund Centre's London staff transferring to Clearstream. Clearstream is a subsidiary of the Swiss bank UBS AG and was founded in 2000.