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Euroclear sees increase in funds custody

Assets under custody riseEuroclear, the post-trade settlement firm, says assets under custody and administration in its FundsPlace business reached €2.4 trillion last year.

The Brussels-based company said FundsPlace had attracted more asset managers and ETF issuers over the year and that fund orders had increased 3% to 11.2 million.

Euroclear is a provider of ‘international ETF settlement structures’, which are intended to bring efficiencies to the exchange-traded funds business.

Overall, Euroclear saw revenues across it wider business increase 8% to €1.435 billion last year and said the average value of securities held on behalf of its clients increased by 5% to €30.1 trillion.

In November last year, Euroclear Bank said it would offer clients the choice of settling euro trades in both commercial bank and central bank money.

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