Asset Services, REYL Intesa Sanpaolo’s business division in charge of its institutional client base, will serve as a payment agent for ARTEX, a Liechtenstein-based multilateral trading facility that focuses on art-related investments.
Established by Yassir Benjelloun-Touimi and Prince Wenceslas of Liechtenstein, ARTEX seeks to establish an ecosystem centered around art, encompassing investment and piece visibility.
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Millions of investors are able to use a new asset class that this financial model prepares the way for through exchange listings and the division of artwork prices into shares with an issue price starting at €100 ($106).
Moreover, in January 2023, ARTEX received permission from the Financial Authority of Liechtenstein (FMA) to function as an art share exchange within a set of rules.
They completed their first effective transaction in March 2024 with a vehicle named Art Share 002, which is currently the owner of a triptych valued at an estimated 55 million US dollars, painted by figurative painter Francis Bacon (1909–1992).
Through its Asset Services division, REYL Intesa Sanpaolo has provided customers with a full paying agent service since 2018.
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By GlobalDataThis service includes operational and regulatory support for shares, bonds, private issuances, and initial public offerings.
With direct access to the primary central securities depositaries, REYL Intesa Sanpaolo conducts business on significant Swiss stock exchanges.
Furthermore regulatory and operational support for shares, bonds, private issuances, and initial public offerings are just a few of the services that REYL Intesa Sanpaolo’s Asset Services company has provided to clients since 2018.
Direct access to the primary central securities depositaries and operation on major Swiss stock exchanges are features of REYL Intesa Sanpaolo.
REYL Intesa Sanpaolo has supported ARTEX in a project by providing solutions like ISIN creation, share delivery, and operational coordination, leveraging its 360-business integrated model.
The result culminates a nearly two-year engagement between REYL Intesa Sanpaolo and ARTEX, built on trust and commitment.
Tatiana Carruzzo, head of asset services at REYL Intesa Sanpaolo, commented: “The collaboration and support among colleagues in the Paying Agent department, Asset Services, as well as the support from all internal departments and the Bank’s management, have allowed us to achieve our goals. I hope that our collaboration with ARTEX will continue for many years.”
Benjelloun-Touimi added: “We are delighted to be joining forces with such a renowned financial player as REYL Intesa Sanpaolo. Their team played an important role in creating the best conditions for the successful launch of the ARTEX MTF. Since then, Swiss banks have been enthusiastic about art as a new asset class, demonstrating the great potential of democratising investment in art”.
