Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

16178

SWIFT/EFAMA report shows increase in fund processing standardisation

RELATED TOPICS​

A new report form European Fund and Asset Management Association (EFAMA) and SWIFT has identified a growing volume of automated processed orders, received by transfer agents (TAs) in the H1 2014.

The funs centres of Ireland and Luxembourg saw an increase of 2.5% to 12.2 million during the first six months of the year (against 11.9 million in H2 2013). In parallel, the use of the ISO standards increased to 50% in the second quarter of 2014 (from 45.3% in Q4 2013). This evolution is mainly explained by the decrease of automation through proprietary File Transfer Protocol (FTP).
 
EFAMA and SWIFT have long campaigned to communicate on the advancement of automation and standardisation rates of orders of cross-border funds, and this report emphasises further this joint initiative. 32 TAs in Ireland and Luxembourg, representing more than 80% of the total incoming third-party investment funds’ order volumes in both markets, took part in the survey.

Peter De Proft, EFAMA Director General, says: “We welcome the fact that the use of ISO messaging standards in the processing of fund orders of cross-border funds in Luxembourg and Ireland has reached the 50% threshold for the first time. This is an important contribution to the objective of strengthening efficiency in fund-back office activities for the ultimate benefit of end investors.”
 
Fabian Vandenreydt, Head of Securities Markets & Core Business Development, SWIFT, says: “We applaud the continuous progress towards ISO adoption. Together with EFAMA, we are continuously encouraging the industry to alleviate the high costs and inefficiencies associated with manual processing by supporting initiatives that foster automation and standardisation for the funds industry, and we should not give up there.”

Latest News

The trading and investment platform eToro has extended its proxy voting feature to all stocks..
C8 Technologies, the London-based fintech founded by former BlueCrest Capital Management partners Mattias Eriksson and..
DWS has announced the latest development in its strategic growth push in Alternative Credit with..

Related Articles

The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a possible buyout of EY’s Italian consulting branch...
The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a..
Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by