Latin Clear Panama to Use Clearstream’s Post-Trade Solution Vestima
The move is said to significantly strengthen Clearstream's investment funds strategy for Latin America.
Funds domiciled in Panama are to receive centralized delivery versus payment (DVP) settlement services based on synchronous exchange of cash and securities between fund distributors and transfer agents.
"We are pleased to welcome the first TA in Panama, a major domicile for cross-border distribution of investment funds in Latin America, where markets are gradually opening up to offshore funds," says Philippe Seyll, head of investment funds services for Clearstream. "Our objective is to become a partner of choice for the financial institutions in the region that wish to enhance their investment funds offering."
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