Italian online broker Directa has signed an agreement with Clearstream to provide Italian investors with access to Clearstream’s global fund portfolio.
Through Directa’s trading platform and network of financial advisors, clients can access Clearstream’s fund suite with over 190,000 international funds.
The CACEIS Bank Italy branch will act as Local Paying Agent in this transaction. To streamline order flow, CACEIS will communicate with transfer agents via Clearstream’s Vestima platform.
In addition, Clearstream will provide Directa with fund distribution support through its Fund Center platform.
Speaking on the announcement, Giancarlo Marino, CEO of Directa Private Banking, said: “We see this partnership as a strategic step for the development of our private banking project. From the beginning, we have aimed to create an offer distinct from traditional players, allowing our customers to have access to a range of products and services characterized by profiles of qualitative excellence. We think today’s choice goes exactly in that direction.
Philippe Seyll, Head of Fund Services at Clearstream, adds: “We are delighted to support Directa with CACEIS to provide Italian distributors and investors with execution, distribution and data services through our Fund Center and Vestima fund platforms.
“As we have a long history of serving institutional investors in Italy, the country has always been a key market for Clearstream, and we are delighted to now extend the offering to retail investors.”