Post-trade services provider Clearstream has partnered with Standard Chartered to facilitate the inclusion of funds domiciled in the United Arab Emirates (UAE) on Vestima’s platform.
This partnership ensures seamless end-to-end funds processing and execution while maintaining compliance with recent regulatory updates from the Securities and Commodities Authority (SCA) of the United Arab Emirates.
The partnership extends enhanced custodial support to Standard Chartered for the custody and execution of UAE-domiciled funds and expands investment opportunities for retail clients through Clearstream’s Vestima platform, enabling them to invest efficiently in UAE-domiciled funds.
Neil Wise, Chief Commercial Officer for Clearstream Fund Services, said:
“We are excited to be part of the launch of Standard Chartered’s retail funds in the UAE. This successful partnership exemplifies our commitment to foster partnerships and deliver solutions to the market. Through Vestima, custodians can continue to support local funds, contributing to the growth of mutual fund activity in the UAE, while meeting regulatory standards.”
Owen Young, Managing Director and Regional Head of Wealth Management for Africa, Middle East and Europe at Standard Chartered, said:
“At Standard Chartered, we are committed to supporting our clients’ financial goals and aspirations. Through this successful partnership with Clearstream, we are able to offer locally based capital to our retail clients in the UAE and deliver on our promise to provide innovative and leading investment solutions that meet diverse client needs while supporting the Govt. of the UAE. vision to make the country a global economic hub”.