UK – Marketmaker and broker Winterflood Securities has appointed KAS UK, the London based division of Dutch custodian KAS-Associatie, as its general clearing member in the UK.
KAS was chosen after a beauty parade involving several clearing banks in response to the Winterflood RFP.
According to Winterflood it chose KAS UK because of the quality of its service and its multi-market clearing capabilities as well as the possibility of on-line communication with the bank.
KAS will begin servicing the group on February 26.
Maarten Heukshorst, head of the UK financial intermediaries division at KAS, says he is confident that Winterflood will be a major client and expects its decision to have a positive influence on other parties with whom talks on similar services are currently in progress.