Cofunds is linking to Euroclear’s EMX message system for further electronic fund transaction order routing, enabling the company to achieve 95 percent STP with fund managers.
The EMX message system is fully integrated within the post-trade infrastructure of Euroclear UK and Ireland where platform clients can choose from a comprehensive portfolio of order routing, settlement and custody services.
Mark Hopcroft, head of institutional distribution at Cofunds, said: “The increased levels of processing efficiency that our co-operation with Euroclear UK and Ireland provides is common business sense. In a world where stronger focus will be on providing capital market transparency, efficiency and cost control, it will be those fund management houses that have embraced proven channels for automated distribution that can expect to see their AUMs soar.”
“What we are doing with Euroclear UK and Ireland echoes the commitments we made to clients last October—to remain focused on ensuring that everything we do enables clients to demonstrate value, drive efficiencies and increase the importance they play for end investors.”
John Trundle, CEO of Euroclear UK and Ireland, added: “We are very pleased to partner with an industry leading platform such as Cofunds. Together we are enabling mutual clients to reduce their operational processing costs and achieve exceptional processing efficiency.”
“The wide scope of our service enables Cofunds to route their orders in an electronic way to an additional 25 fund issuers where previously they relied on less automated channels.”
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