The Korea Securities Depository (KSD) and fund services provider Clearstream, a subsidiary of the Deutsche Börse Group, have agreed to create a framework to support cross-border investment fund distribution, by linking KSD’s FundNet and Clearstream’s Vestima.
FundNet is an infrastructure which processes all fund related operations from beginning to end. Vestima is a fund processing platform that covers more than 120,000 investment funds.
The cooperation is designed to facilitate investments from international investors into Korea-domiciled investment funds.
KSD and Clearstream have said they will implement the system linkage in 2014 and offer extended services to support direct and indirect cross-border fund distribution.
KSD is the sole central securities depository in Korea and provides depository and settlement services for securities traded in the Korean securities market.