Clearstream inks retail funds deal with Italian online broker Directa and CACEIS

Italian online broker Directa has signed an agreement with Clearstream to provide Italian investors with access to Clearstream’s global funds portfolio. Via Directa’s trading platform and network of financial advisors, clients can access Clearstream’s funds suite with more than 190,000 international funds in 50 jurisdictions worldwide.

CACEIS Bank Italy Branch will act as Local Paying Agent (SIP, Soggetto Incaricato dei Pagamenti). Streamlining order flows, CACEIS will ensure swift and efficient communication with transfer agents via Clearstream’s Vestima platform. Clearstream will also provide Directa with fund distribution support via its Fund Centre platform.

Giancarlo Marino, Private Banking CEO of Directa, said in a statement: “We consider this partnership as a strategic step for development of our private banking project. Since the beginning we have aimed to create a distinct offer from traditional players, allowing our customers to have access to a range of products and services characterized by profiles of qualitative excellence. We believe that today’s choice goes exactly in that direction.”

Philippe Seyll, head of Fund Services at Clearstream, said in a statement: “We are delighted to support Directa together with CACEIS to provide Italian distributors and investors with best-in-class execution, distribution and data services via our renowned Fund Centre and Vestima fund platforms. As we have long been serving institutional investors in Italy, the country has always been a key market for Clearstream, and we are excited to extend the offering now to retail investors. We are looking forward to further developing strategic partnerships in the country.”

Giorgio Solcia, managing director, at CACEIS Bank Italy Branch, said in a statement: “We are proud to have been selected as Local Paying Agent by Directa SIM, a leading broker dealer in Italy, and support their growth in this new business in partnership with Clearstream. CACEIS’ optimised operating model enables our clients to seize development opportunities thanks to enhanced capabilities in our local LPA offer to support Italian retail investors combined with our global experience in fund distribution services. The support of Italian distributors is a key development area of growth for the local branch.”

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