Euroclear announces completion of MFEX Group acquisition
The acquisition will see the addition of a funds platform that has quadrupled its assets under administration over the past four years.
The acquisition will see the addition of a funds platform that has quadrupled its assets under administration over the past four years.
Busy quarter of product launches and post-Brexit moves culminates in uptick across some business lines and assets under custody, despite profit dip.
Combined with FundSettle, Euroclear said the acquisition of the fast-growing platform will create a new funds market utility and a leading global provider of fund services.
DWS's IKS fund administration business is expected to achieve a valuation of between €300-400 million in a potential sale.
SGSS Germany and MFEX will collectively provide trading, custody services, and rebate collection for several thousand ebase funds.
Fund distribution platform aims to serve distributors and asset managers based in Hong Kong, Taiwan, Korea and Japan from the new setup.
MFEX recruits BNP Paribas' former FinTech expert who led many of their start-up collaborations in the funds distribution space.
The deal will see MFEX manage all post-trade services related to funds, currently operated by Societe Generale Luxembourg.
MFEX has gone live with the delivery of fund distribution services to RBC I&TS under a long-term partnership.