Reminder: Order routing service available exclusively via Vestima
We hereby remind customers that, as originally advised in our Announcement A10226, dated 21 December 2010, all investment funds order routing is handled through Vestima and that it is not possible to place such orders via free-format message to our Investment Funds Order Desk.
All Clearstream Banking S.A.1 (CBL) customers can access the Vestima investment funds order routing service, via CreationOnline, to place all investment funds orders and benefit from an attractive pricing schedule and improved processing times via Vestima.
If an order is received as a free-format message, it will be dealt with at the discretion of the Investment Funds Order Routing Desk and on an exceptional and “best efforts” basis only. Orders not issued through Vestima will be charged a fee of 0.5% of the total order value expressed in EUR, with a minimum charge of EUR 150.
CreationOnline: Getting started with Vestima
Users of CreationOnline can access the Vestima order routing service for investment funds via a dedicated link on the interface. In order to enable the link, the CreationOnline OU Administrator must provide users with the relevant access.
Please refer to “CreationOnline: Getting started with Vestima” attached below for details of setting up relevant user groups. You can get further assistance from our Luxembourg Connectivity Support Help Desk (see below).
As a Business User or Business Supervisor with the relevant permissions, you can launch the Vestima order routing service for investment funds by a simple click on Vestima in the navigation menu. This will launch the Vestima application in a new browser window.
Vestima user documentation is available for download on our website, in particular the Vestima User Guide for Order Issuers.
Vestima automated order routing service and settlement
Vestima provides centralised order routing access to European and international investment funds markets. All open-ended funds available for settlement and custody in CBL are also supported for order routing via Vestima. The complete list of available funds is maintained on our website under Information Centre / Investment Funds Services / Supported Funds.
In addition to subscription and redemption orders (in quantity or in value), Vestima also handles switches and cancellation requests.
Orders are placed in the name of the customer and the order is further enriched, where available, with additional details to enable the Order Receiver to identify the underlying customer and apply distribution agreements accordingly. Where such additional information is missing, default values may be used in the order instead.
Vestima provides a full straight-through processing (STP) service, from placement of the order to final settlement, by issuing settlement instructions on the Order Issuer’s behalf based on information received in the confirmation of execution from the fund agent.
Further information
For further information about CreationOnline access and user setup, customers may contact Clearstream Banking Connectivity Support at connectlux@clearstream.com or +352 243 38110.
For further information about investment funds order routing, please contact Clearstream Banking Investment Funds Services Help Desk at csvestima@clearstream.com or +352 243 32833.
1. Registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248.
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