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Deutsche Börse Group’s post-trade services provider Clearstream is expanding its offering in the funds space by acquiring Swisscanto Funds Centre Ltd., London (SFCL), from Zürcher Kantonalbank. A purchase agreement was signed on 23 April 2018. The transaction for a high double-digit million euro amount is expected to close within the third quarter of 2018, subject to approval of relevant authorities. For Deutsche Börse Group, the investment will be accretive in the first year.
The funds platform SFCL will continue to exist as a 100 percent subsidiary of Clearstream. Currently, SFCL is the UK wholly owned subsidiary of Swisscanto Holding Ltd, Zürich, a Zürcher Kantonalbank group company. This transaction will not affect the service for existing customers of SFCL on both...
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