The Asset Servicing Journal

JANUARY 2014 n o. 36

CACEIS’s AIFMD regulatory reporting: Efficiently achieving compliance p.5

CACEIS will support BPCE Group in the clearing and processing of OTC derivatives p.4

CACEIS launches execution services p.5

philippe leprince, caceis

christophe lebrun, BPCE

gilles de foucault, caceis

CACEIS in Luxembourg leverages clients’ market opportunities in Europe’s Premier Investment Fund Centre Luxembourg may be small in terms of population and geographical surface area, however, on the world stage, this diminutive country is a financial powerhouse with a reputation for quality, stability and the competitiveness of the investment fund industry in particular. p.2 CACEIS serves clients out of a new branch in Italy Following the granting of a banking license by the Bank of Italy on 21 January 2014, CACEIS has opened a Milan-based office to service clients active on the Italian market. p.3 CACEIS provides its clients with Trade Repositories reporting delegation The EMIR reporting obligation for all derivative contracts to Trade Repositories will start on 12 February 2014. p.4 CACEIS will be a directly connected participant in T2S The T2S implementation timetable has been confirmed. CACEIS will offer its clients a single access point to all European markets through a direct connection that will improve the processing of instructions and make settlement more efficient. p.6 CACEIS activities audited under the ISAE 3402- SSAE16 standards CACEIS is dedicated to achieving the highest quality standards for custody and fund administration through the rigorous annual processes of ISO 9001 certification and ISAE 3402 – SSAE16 auditing. p.7

Taking Stock of Past Achievements and Future Challenges

CACEIS will shortly be releasing its finan- cial results, and I am pleased to announce that once again, we can post a healthy set of financials which demonstrate the profitabil- ity of our group and therefore indicates our ability to invest in the staff, IT tools and in- dustry research that provide the best return on investment and highest added value for our clients. Our sales figures have a lot to do with this state of affairs, and the fact that our sales teams have not only met, but exceeded their targets is testament to our ability to cre- ate compelling sales offers led by the quality of our services, the reliability of our systems and the broad range of our products. CACEIS’s profitability is not however achieved through growth alone, and our reputation for having some of the best con- trolled costs in the industry is evidenced by our ongoing programs of systems and IT tool consolidation across group entities, as well as increased efficiency within our own operational centres by the creation of dedi- cated centres of excellence designed to serve clients group-wide. Shifting our focus ahead to 2014, many in- dustry commentators take a pessimistic view of the coming twelve months, forecasting a very challenging environment driven by reg- ulatory initiatives, ever increasing fee pres- sure, and stagnant interest rates. However, despite the business environment’s possibly gloomy outlook, CACEIS will keep up its program of investment to offer new services and enhanced products for its clients. Finally, throughout 2013, CACEIS has dem- onstrated its commitment to supporting cli- ents’ growth, and as a significant portion of CACEIS’s own growth is due to the continued success of our clients, I would like to take this opportunity to thank them ■

group, but we have also upgraded to new, in- dustry leading software that will bring many benefits to our clients in this growing sector of the investment industry. CACEIS has also recently gained banking licences in Belgium and the Netherlands which allow us to significantly extend the scope of our operations in these countries, to offer custody and depositary services as well as related services in addition to the ex- isting fund administration offer. This move clearly demonstrates our commitment to our clients in these regions and will be a key factor in our ability to win new client man- dates over the coming years. In terms of the group’s geographic expan- sion, CACEIS has also added two new juris- dictions to its global network, both of which are key to our future business development plans. We have taken the decision to create a CACEIS entity in Italy, which opens with a strong existing client base and competent servicing staff. By bringing CACEIS’s broad asset servicing experience to clients in Italy, we are in a strong position to grow the en- tity’s client base by attracting large players that wish to benefit from our group’s inter- national servicing expertise. We have also opened a representative office in London, which is a very significant step for CACEIS, that puts a greater accent on the international character of the group in order to attract and retain a larger number of clients from English-speaking jurisdic- tions. This move is part of our broader stra- tegic plan to better meet the needs of UK, Irish, US and Canadian clients, and involves the appointment of a dedicated Regional head who is responsible for the zone’s de- velopment, and who serves on the group’s Executive Committee.

François Marion, Chief Executive Officer

L ooking back over 2013, I would like to highlight two major developments that I believe define the year for CACEIS - firstly, the expansion of our product and service offering and secondly, the extension of our geographic coverage. The launch of ‘Prime Fund Solutions’, our new business line that brings together the electronic execution and clearing & collater- al management solutions for derivatives that is integrated with our custody and adminis- tration services across the group, represents a major milestone in the group’s ambitious plans to expand its services in derivatives. It responds, with a single point of contact and industry leading software, in a coordinated manner to the challenges faced by clients op- erating under EMIR and MiFID II. Another important enhancement of our service of- fer was in the Private Equity and Real Estate sphere, where we have not only restructured our teams to create a number of centres of excellence, available to clients across the

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