London
18 June 2013
Reporter: Georgina Lavers
Securities Lending default image

Linkage found along the Cofunds/Euroclear line


Cofunds is linking to Euroclear’s EMX message system for further electronic fund transaction order routing, enabling it to reach 95 percent straight-through processing with the fund managers it interacts.

The Cofunds platform, which is responsible for administering fund holdings worth over £50 billion, offers its clients the benefits of automation for the full fund transaction life-cycle. In addition to the current automated processes on offer, the fund platform’s clients can now route aggregated orders through the Cofunds link with Euroclear’s EMX Message System.

Mark Hopcroft, head of institutional distribution at Cofunds, said: “The increased levels of processing efficiency that our co-operation with Euroclear UK & 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 & 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, the CEO of Euroclear UK & Ireland, said that the wide scope of their 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.

The EMX message system is fully integrated within the post-trade infrastructure of Euroclear UK & Ireland where platform clients and other trade originators can choose from a comprehensive portfolio of order routing, settlement and custody services.

Fund orders from institutional firms, or IPAs for retail market business, can be routed from fund platforms to Euroclear UK & Ireland’s EMX message system, which interfaces electronically with transfer agents and the fund managers they service.

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