One of the largest distributors of third party funds, Allfunds specialize in investment funds and have operations in Spain, Italy, Portugal, Latin America and more recently the UK.
Their decision to join the EMX Message System was a strategic one as Richard Adler, Head of UK Operations at Allfunds explained: âOur platform is already based on proven technology and operational efficiencies so by using the EMX Message System we are looking to build even further on these.
By using AB Prodata babel STP funds messaging service to integrate with the EMX Message System we could see the obvious benefits to expedite a resolution to our UK product needsâ.
Phil Boland CEO of AB Prodata said âWe are pleased to be able facilitate the integration of Allfunds and EMXCo connectivity using our hosted STP messaging service and look forward to watching the market reap the benefits.â
The EMX Message System has become established as the standard for straight though processing of funds orders and in 2004 as part of the drive to automate the European funds industry, EMXCo opened their Luxembourg office.
Jane Sidnell, head of EMXCo Continental Europe said: âWe are delighted to announce that Allfunds have joined the EMX Message System. Weâve been working with Allfunds for some time now and this is further evidence of the pan European nature and success of our business. We have a simple philosophy that it doesnât matter where you are in Europe, if you currently use phone fax or paper you can send that data faster, cheaper easier and safer through the EMX Message System. The same principles apply, one set of data, keyed once, in one format through one connection.â
This is another major success for EMXCo as their Luxembourg office continues to grow the business throughout continental Europe.
In July 2006 the EMX Message System routed around 1 million messages and over â¬3 billion of orders.