Euroclear’s EMX Message System recently reached a new record of transmitting 30,000 fund order messages in a single day. Growth in the use of Euroclear UK & Ireland’s EMX Message System continues to expand since a record 39 million messages were routed in 2011.
Tony Wood, Head of Fund Product Sales at Euroclear, commented: “Despite tough market conditions, Euroclear’s efforts to streamline the operational dimensions of the fund industry are being rewarded with increased business flows. This trend, in fact, reflects the need of fund market professionals to make better use of services that will automate processes, reduce operational risks and provide cost benefits by achieving economies of scale. Our aim is to help our clients operate more efficiently and cost effectively.”
Part of the reason for the record message flows is the growing success of Euroclear UK & Ireland’s fund processing services to which the EMX Message System routes fund orders. In addition, the EMX Message System is routing cross-border fund orders to and from FundSettle to transfer agents, fund promoters and distributors in the UK and abroad.
“The Euroclear group’s portfolio of fund services positions us strongly in delivering the efficiencies, cost and risk reductions that clients are demanding. We are regularly extending our service features, which now include restricted funds and the re-registration of funds, for example, to make post-trade processes in the fund industry as easy as possible,” Mr. Wood continued.
Euroclear offers a comprehensive range of fund-related services through its FundSettle platform and the EMX Message System, including order routing, asset servicing and settlement.