London
12 June 2013
Reporter: Jenna Jones
Securities Lending default image
Cofunds routes orders through Euroclear’s EMX system
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.”

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
More news