The EMX Message System, Euroclears fund messaging service, hit a new record of transmitting 30,000 fund order messages in a single day. Growth in the use of Euroclear UK & Irelands EMX Message System continues to expand since a record 39 million messages were routed in 2011.
Euroclear attributed the part of this record to the growing success of Euroclear UK & Irelands fund processing services to which the EMX Message System routes fund orders. The system also routes cross-border fund orders to and from FundSettle to transfer agents, fund promoters and distributors in the UK and abroad.
Tony Wood, head of Fund Product Sales at Euroclear, commented: Despite tough market conditions, Euroclears 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.
(JDC)