Clearstream picks Finomial to automate trade documentation for funds

Clearstream, Deutsche Börse’s post-trading services division, has selected client lifecycle management technology from Finomial to automate trade documentation completion for alternative investments.

As a leading alternative funds custodian, Clearstream places trades with over 40,000 hedge funds across 45 jurisdictions globally. Finomial’s platform adds efficiency and transparency in what has historically been a labour-intensive, paper-based process.

From the end of 2020, Clearstream’s clients will benefit from fully automated trade documentation completion and a client interface to automate collection and provision of individual customer declarations.

“The alternative investments industry has been marked by highly individualised, cumbersome and manual processes. With Finomial, we found a perfect provider to make processes more efficient for our clients,” said Philippe Seyll, Head of Investment Fund Services and CEO of Clearstream Banking.

“Finomial’s technology will help automate hedge fund subscriptions and private equity capital commitments for over 1.5 trillion euros,” said Meredith Moss, CEO of Finomial. “As Clearstream continues to gain market share, we are excited to support them to further automate private funds investing.”