caceis.com, new version

( products and services
Marco Wilms,
Head of Business Development
(Germany)
no. 13 - march 2008
Deep-rooted
in Germany
for asset servicing
With the creation of CACEIS Bank
Deutschland GmbH, the CACEIS
group has extended its
international network into
Germany, providing custodial
services to clients operating in
country’s funds market.
A 15% SHArE of THE GErmAn
CuSToDy mArkET
The Financial Markets Service Bank GmbH (FMSB),
an entity responsible for providing custodial activities
to the German market, was recently acquired
by CACEIS from German universal bank,
HypoVereinsbank (HVB). The deal was finalised
on December 28th , 2007, whereupon FMSB was
renamed CACEIS Bank Deutschland GmbH (CBD)
on February 1st . CACEIS’ new German subsidiary
provides comprehensive clearing and settlement
services for local and international institutional
clients such as banks, insurance companies, brokerdealers,
investment companies and large corporates.
It also offers a wide range of custody-related
services to asset management companies operating
in Germany. The bank holds some e400 bn in
assets under custody, which represents a substantial,
15% share of the German custody market,
which itself is the third largest in Europe. With a
staff of over 500 highly-qualified men and women,
CACEIS Bank Deutschland operates out of two
offices in Germany. The bank’s office in the city of
Munich is responsible for most clearing and custody
services, whereas the office in Hamburg deals
with the IT-Support and with certain depositary and
trustee functions.
An InTEGrATED offEr
for mArkET pArTICIpAnTS
CBD’s offer is strengthened by its many interfaces
with clearing and settlement platforms which
meet the needs of clients who trade on European
markets. Clients have access to the main European
stock markets Euronext, Xetra, Xontro, SWX, Virt-X,
LSE, Xetra Vienna as well as transactions clearing
on LCH.Clearnet and Eurex. This offer combines
outsourcing of trading and clearing with those of
custody and the settlement-delivery. Risk monitoring,
treasury management and reporting to financial
authorities are also offered. Clients of HVB, now
serviced by CACEIS Bank Deutschland will find that
the CACEIS group is heavily involved in initiatives to
improve European post-market infrastructures. Its
commitment to the field is demonstrated in several
ways: CACEIS is a direct member of the Target
2 cash system and the securities payment and delivery
system ESES for the French, Belgian and Dutch
markets; the group also gives solid support to international
development projects like T2S. With CACEIS,
clients have a partner with a true European view
of post market infrastructures, which makes significant
investments into the development of innovative
products and services designed to meet the
evolving needs of its clients.
A DEpoSITAry/TruSTEE funCTIon
for funD mAnAGErS
Within the framework of its role as a depositary
bank, besides asset custody, CBD ensures that funds
remain in strict compliance with all rules and regulations
laid out by the German financial authority and
investment law (InvG), such as those related to funds’
legal investment limits and ratios. The service also
includes controls on asset valuation methods as
well as the calculation of the daily asset values. The
bank offers legal support throughout the life of the
fund and also acts as fund liquidator if so required
CBD clients will benefit from the CACEIS group’s
broad offer of services in the knowledge that they
have the support of a partner that is fully committed
over the long term to the asset servicing industry.
In addition, clients of CACEIS outside Germany
will be able to use CACEIS’ newly acquired expertise
on the German market to further develop their
activities. CACEIS also intends to reinforce the service
package in Germany by developing an additional
fund administration offer @
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