The Maples Group has expanded its global fund services offering with the launch of new ESG solutions. The enhanced ESG offering includes data, reporting, and certification support, as well as a platform solution to support European distribution. Maples has implemented an ESG data and reporting system from Trucost, part of S&P Global, which provides analytics…
Category: Product
HSBC gains ADGM licence
HSBC has expanded its markets and securities services business into the Abu Dhabi Global Market (ADGM), obtaining an arranging custody licence for sovereign, institutional and investment manager clients. The expansion connects clients to a custodian network across 96 markets and provides a digital platform for securities services activities.
DTCC launches 1042-S service
DTCC has launched a new service, the 1042-S Classification Announcement. The new offering will enable issuers to directly provide DTCC’s subsidiary, DTC, with IRS Form 1042-S tax withholding information on distributions prior to the payable date, lowering the amount of tax withheld on distributions for non-U.S. investors. DTCC collaborated with BlackRock and Citi’s securities services…
Apex expands compliance solutions for Singapore market
Apex has expanded its global compliance solutions services for the Singapore market, led by newly appointed Stefan Ho, head of compliance solutions, Singapore. The launch of compliance solutions in Singapore will help to address clients’ risks and concerns around ESG, climate and environmental risk, AML & compliance, and emerging technologies such as digital/crypto assets, and…
JTC launches fund admin in Ireland
JTC, the C.I.-based professional services provider, has launched its fund administration offering in Ireland to complement existing AIFM, depositary and corporate services. The business will be led by Graham Kennedy, CEO of JTC Fund Solutions (Ireland) Limited and follows Central Bank of Ireland regulatory approval. Following the acquisitions of Ballybunion Capital Limited and INDOS Financial…
Apex expands digital banking through EDB
Apex has expanded its digital banking services delivered by its Luxembourg-based subsidiary, European Depositary Bank. EDB’s digital banking platform offers a tailored solution for asset managers and SPVs, family offices, corporates, trusts and UHNWI. Clients can now open multi-currency accounts and manage their day-to-day transactions, including global payments, FX requirements and cash management through automated…
LemonEdge strikes deals with 73 Strings & Anduin
LemonEdge, the UK-based fund accounting platform for the private asset sector, has struck a deal with 73 Strings, a fintech which provides advanced monitoring technology and a valuation platform for both equity and credit asset classes. The system is designed to streamline processes for analysing, valuing, monitoring and trading in illiquid assets. LemonEdge and 73…
Clearstream and Pirum expand services
Clearstream and Pirum, the securities finance automation provider, have extended their services to offer new collateral connectivity. This allows mutual clients to automate the calculation, matching, submission and validation of collateral requirements and allocations for securities lending, repo and OTC derivative transactions. The extended connectivity assists clients with agreeing collateral on a real-time basis, reducing…
BNY Mellon adopts Xceptor
BNY Mellon has entered into a multi-year licensing agreement to adopt the Xceptor tax platform. The Xceptor solution will provide digital process automation for tax documentation management and pre-population, identification of tax relief opportunities, and enhanced submission and tracking of withholding tax reclaims. The phased implementation of Xceptor’s end-to-end tax platform should help to reduce…
Zodia registered as VASP in Ireland
Zodia Custody (Ireland) Limited has been added to the Central Bank of Ireland’s Virtual Asset Service Provider Register, and is now authorised to provide commercial services to clients in Ireland. Zodia Custody, an institutional cryptoasset servicing company headquartered in London, established its Irish subsidiary in August 2021. Zodia Custody is a wholly owned subsidiary of…