EUROPE – Deutsche Börse’s Clearstream custody and settlement arm has put back the launch of its enhanced Vestima service for investment funds.
“We don’t specifically know” the launch date, said Clearstream spokesman Graham Cope. “Right now it’s after the summer break.” When Clearstream announced the launch in January this year, it said it would “go live in summer 2004”.
Cope told IPE in January that Clearstream was targeting asset managers and insurers with the new enhancement to the service.
It said today: “Growth rates with the existing services have continued to increase with the number of investment funds related instructions processed reaching almost 130,000 in May 2004, a rise of 38.8% from the same period last year.”
Deutsche Börse said the assets under custody at Clearstream have risen eight percent in the last year to 7.6 trillion euros as at the end of May.
“The value of assets held in custody on behalf of customers rose to approximately 7.6 trillion euros, a rise of eight percent from the same month last year,” the exchange group said in a release.
International transactions 13.4% rose to 7.7 million – while domestic deals fell by 34.9% to 15.7 million. It said this was due to the launch of the equity central counterparty in March
The company said: “The custody and settlement division continues to benefit from full integration into Deutsche Börse group.”