Banque Internationale à Luxembourg (BIL) has extended a relationship with Clearstream, the post-trade services provider, to create operational efficiencies in mutual and hedge fund processes.
Clearstream will help BIL streamline is third-party fund processing activities including order execution, settlement and asset servicing.
The bank will use Clearstream’s investment fund processing infrastructure Vestima to gain more automation.
Clearstream recently won a similar contract from SIX Group in Switzerland.
Yves Baguet, chief operating officer at BIL, said: “[Clearstream’s] long-standing experience in bringing efficiencies to the market will help us further industrialise order flow.”
BIL operates in retail, private and corporate banking.
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