One of the largest distributors of third party funds, Allfunds, who specialize in investment funds, have joined the EMX Message System. Allfunds have operations in Spain, Italy, Portugal, Latin America and the UK.
Their decision to join the EMX Message System was a strategic one. “Our 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,” says Richard Adler, Head of UK Operations at Allfunds. “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 needs”.
“We 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,” says Phil Boland CEO of AB Prodata.
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.
“We are delighted to announce that Allfunds have joined the EMX Message System,” says Jane Sidnell, head of EMXCo Continental Europe. “We’ve 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 doesn’t 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.”
This is another welcome success for EMXCo as their Luxembourg office continues to grow the business throughout continental Europe. In August 2006 the EMX Message System routed over 1 million messages and over €3 billion of orders.