Euroclear acquires fund distribution platform MFEX
MFEX’s distribution platform will combine with Euroclear’s FundSettle service, a post-trade operations unit which streamlines back-office process through a single point of access for order management, settlement and asset servicing. MFEX’s fund distribution platform has €320bn of assets under administration and more than 350 institutional clients as its user-base. The transaction aims at creating solutions to offer fund management companies efficient mechanisms to access a network of end investors in a fragmented marketplace.
The MFEX group, established in 1999, is headquartered in Stockholm, with more than 300 employees. The financial details of the transaction, which is expected to close in the second half of 2021, has not been disclosed.