According to the agreement, Finesti’s e-file.lu application will be one of the channels for the submission of requests electronically for the allocation of ISIN codes within Clearstream, in its capacity as a national numbering agency.
The electronic solution offers several benefits to promoters of investment funds, including traceability and security for allocation requests as well as real-time tracking.
All issued securities, equities, bonds and investment funds, in order to be officially processed, should feature an ISIN code allocated by a national agency, which Clearstream undertakes in Luxembourg. Each year, Clearstream allocates around 15,000 new ISIN codes to Luxembourg funds.
Dominique Valschaerts, CEO of Finesti, said: “This new procedure, which is based on Finesti’s e-file tool, complements the already extensive range of its functions, thereby contributing to optimizing the registration procedure of Luxembourg funds.”
Philippe Seyll, head of investment fund services at Clearstream, said: This initial cooperation between Finesti and Clearstream is a new step towards further improving efficiency and the infrastructure for handling Luxembourg investment funds.
