Cardale Prolongs Partnership With EMXCo For Trades Settlement

Cardale Asset Management has signed up for settlement via the EMX Message System. Funds deals placed via the EMX Message System by opted in participants are sent to Euroclear UK & Ireland, which settles the cash leg of the transaction

By None

Cardale Asset Management has signed up for settlement via the EMX Message System.

Funds deals placed via the EMX Message System by opted-in participants are sent to Euroclear UK & Ireland, which settles the cash leg of the transaction on the intended settlement date.

“Euroclear UK & Ireland funds settlement means that we will be able to settle our trades in a standard four-day period,” says Shirley Mansour, head of IT and Settlements, Cardale.

“Everyone knows when they will be paid and we wont have any problems with cheques getting lost in the post. It will reduce costs and man-hours, so our clients will get better value. As a firm were always looking to grow, and this will free staff up to take on work that requires less manual intervention.”

“Through this link with EUI we are now able to offer our clients the same efficiencies that they have seen for funds orders,” says Tony Wood, deputy CEO, EMXCo.

L.D.

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