More NewsAutomated Processing Service Available for UK Funds

Automated Processing Service Available for UK Funds

Euroclear UK & Ireland and EMXCo have launched a fully electronic and integrated order routing and settlement solution for UK fund transactions – a first for UK fund investors. Clients can expect substantial savings on their current operational processing costs by moving from manual to automated order routing and settlement.

According to the HM Treasury, the UK funds industry could save £70- 290m per year by embracing processing automation in place of paper-based fund unit settlement.

In expectation of deriving meaningful benefits from the new EMX/Euroclear UK & Ireland service, firms such as Brewin Dolphin, Cardale, Charles Stanley, Direct Sharedeal and Rathbones have already signed up during the course of 2009.

Yannic Weber, chief executive officer (CEO) of EMXCo and Euroclear UK & Ireland, said: “Having worked closely with the 26 members of the UK Fund Liaison Group, representing all segments of the fund industry, we are confident that the end-to-end fund-processing service we are providing fully meets market requirements. What is more, we are live now. And firms active in UK funds are already testing our new processing arrangements. We are eager to share with them the advantages of substantial operational cost savings and protection from counterparty and settlement risks, in accordance with the IMA recommendations for greater use of electronic funds processing.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi