Direct Sharedeal Ltd is the latest wrap platform to join the EMX Message System, signing up for both orders and settlement.
Having gone live on the 16 March, Direct Sharedeal now has access to around 90 fund managers through the EMX Message System.
Joining the EMX Message System is a step forward for us as we are now able to automate funds processing, therefore reducing costs, says Douglas Boyce, chief executive, Direct Sharedeal. To us the advantages of signing up to settlement at the same time as orders are clear, as we can trade and settle funds through one channel resulting in even further cost reductions.
We are delighted that Direct Sharedeal has joined both the EMX Message System and the EMX Settlement System, says Yannic Weber, CEO, EMXCo. With over 20 new participants joining the EMX Message System already this year, it is great to see that the industry recognises we provide services that have become an integral part of funds processing.
Additionally, with Direct Sharedeal adding their name to the growing list of leading players in the market to sign up, the demand for settlement in the Euroclear UK & Ireland system via the EMX Settlement System is gaining real momentum.
L.D.