Three sign up to Euroclear fund settlement system

Euroclear UK & Ireland has signed deals to settle fund transactions for Aberdeen Asset Management, Artemis Fund Managers and Schroder Investment Management.

Euroclear UK & Ireland, which is the UK’s central securities depositary, has developed its fund settlement service as a more efficient alternative to manual fund transaction processing, which is still prevalent in the industry.

“The holy grail of the fund industry is to have a better solution than today’s slow, unreliable and expensive manual approach to fund transaction processing,” says John Trundle, chief executive of Euroclear UK & Ireland. “This can be achieved through robust automation, endorsed by the whole industry.”

All three asset managers already use Euroclear’s service for automated fund order routing.

“Automated settlement for bonds and equities has been commonplace at Euroclear UK & Ireland for many years, so there is no reason investment funds shouldn’t follow,” says Alan Hawthorn, global head of investor services at Aberdeen.

©2013 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST