Ausmaq, a wholly-owned subsidiary of National Australia Bank Limited, will be a 100% subsidiary of Clearstream (Luxembourg headquarters shown here) Creative Commons

Ausmaq, a wholly-owned subsidiary of National Australia Bank Limited, will be a 100% subsidiary of Clearstream (Luxembourg headquarters shown here) Creative Commons

The move is part of the company’s strategy to expand its investment funds offering, and Australia ranks first in the Asia-Pacific market, valued at €2trn, Clearstream said.

Ausmaq, a wholly-owned subsidiary of National Australia Bank Limited, will be a 100% subsidiary of the Luxembourg-headquartered company. Bernard Tancré, head of investment services at Clearstream, called Ausmaq “a perfect fit for Clearstream’s stragey in the Asia-Pacific region”. 

The transaction is expected to be finalised before the end of 2019.

The announcement was made a week after Clearstream announced increased funds services through its fund desk umbrella platform in a bid to tackle regulatory challenges such as MiFID II. 

Clearstream is an international central securities depository, serving as the Deutsche Börse Group’s post-trade services provider. It has some 2,500 customers in 110 countries worldwide. In Q1 2019, the Group’s net revenue increased 4% to €721m.