ebase mandates Societe Generale Securities Services in Germany and MFEX
The European Bank for Financial Services (ebase) has reportedly selected Societe Generale Securities Services (SGSS) in Germany and MFEX Mutual Fund Exchange AB (MFEX) for their brokerage, custody and trailer fee management services.
SGSS and MFEX will support the European Bank for Financial Services in the areas of brokerage, custody and trailer fee management, Societe Generale said in a press release.
SGSS, based in Frankfurt, and its partner MFEX will provide services related to trading, custody services and rebate collection for ebase. The deal will empower ebase to gain access to a wide range of investment funds and leverage on SGSS and MFEX’s fund distribution capabilities globally. Under the mandate, MFEX and SGSS will provide services for several thousand funds and will process hundreds of thousands of fund trades each year. This underscores the increased efficiency and value that this partnership will bring to ebase.
Kai Friedrich, spokesman for the ebase management board, said: “We at ebase, and indeed the FNZ Group as a whole, are continuously working on further developing our offering for partners and clients, so that, in Germany too, we may become the leading source of digital B2B investment solutions for financial service providers and their clients. We are pleased to have entered into a partnership with Societe Generale Securities Services and MFEX Mutual Funds Exchange, top performing companies with whom we can continue to grow in the coming years.”
Christian Wutz, Head of Coverage, Marketing and Solutions, Germany, SGSS, said: “We are pleased to have ebase as part of our global clients base. This partnership is a significant step for SGSS on the German market, as it reinforces our role as global custodian in Germany. Our innovative and comprehensive range of services will be a key asset for ebase to support its ambitions for profitable growth. Our approach with MFEX is in line with SGSS's platform strategy to integrate the services of various providers to offer our clients best of class modular solutions and products.”
Steffen Ahlers, CEO and Managing Director, Asia, MFEX, said: “This is a promising start to a long and successful partnership with strong growth potential in Germany and beyond. We will support ebase with our B2B solutions which will lead to synergies in the B2B2C segment. For MFEX, a global fund platform with Swedish origins, partnerships with SGSS and ebase are embedded in MFEX’s growth strategy and it represents a continuous expansion of our product range that we offer in existing and new markets.