Brown Brothers Harriman’s Infomediary messaging engine has surpassed a million automated fund orders in Asia.
The solution offers data translation, transformation and transmission services and aims to shorten the straight-through-processing life-cycle from a matter of hours to minutes. It has now processed 1.3 million fund orders across 25 fund ranges through the Taiwan Depository & Clearing Corporation’s (TDCC’s) offshore fund platform.
Since its launch three years ago, BBH Infomediary has played a part towards improving STP rates in Taiwan from 10 percent to almost 70 percent.
It is designed to reduce trading and operational risk and to provide faster access to order status information, and it could also increase investment opportunities for BBH clients and other market participants.
Sherman Lin, president of TDCC, said: "Automating over one million orders in just three years is a great achievement.”
He added: “I would like to thank BBH for its endeavour and its professionalism in driving the growth of fund automation in Taiwan. Since day one, TDCC has been impressed with BBH’s depth of knowledge and expertise."
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