In a market downturn,not only do fund groups have to maintain customer service with reduced headcount and budget, they also have to prepare for an upturn in which compliance with new regulatory scrutiny, risk avoidance and transparency, will be at a premium. Meanwhile, the demand for global distribution, the advent of offshore funds and developments in Asian markets striving to achieve automation for cross border flows, common standards and a modern electronic marketplace, are powering new standards of transaction processing.
David White, Head of Operations at MFT says; âSTP is moving up the priority ladder for fund managers balancing the challenges of reduced cost and expanded service. We will continue to innovate on behalf of our clients across Europe and Asia, ensuring that STP delivers on its promise throughout the processing lifecycle".
SWIFT and EMX are key components of MFTâs âMessage Exchangeâ - the STP module available as part of the companyâs GFAS transfer agency platform. With more than 150 fund distributors now linked to the service, global users are able to take advantage of a variety of STP solutions, including direct SWIFT access, EMX, Vestima+, Fundsettle. These latest milestones can be attributed to the popularity of STP generally, as well as the increased use of SWIFT XML functionality, new distributor take-ons and the success of MFTâs existing customers.