Deutsche Börse, the parent company of Clearstream, will open a new bank in Luxembourg.

Clearstream Fund Centre seeks to provide its clients with access to over 230,000 funds and 50 fund markets worldwide, according to a press release. Philippe Seyll, CEO of Clearstream Fund Centre, says that "the creation of Clearstream Fund Centre S.A. is a strong testimonial to […] Luxembourg as our home and important financial centre."

Clearstream, a financial institute that specialises in post-trading services, laid off dozens of employees in the Grand Duchy about ten years ago.