EMXCo says it has experienced a new record in messaging volumes in the first quarter of 2006. It had its best ever day on 17 April, with the highest daily volume of orders to date.
“This continued growth is excellent and is testament to our commitment to automating the funds industry in both the UK and Continental Europe,” says Tony Wood, Head of Sales and Marketing at EMXCo. “At the beginning of 2006 we expanded our European Sales Team and this is just the first of a number of initiatives that will allow us to realize the fantastic potential that exists both in and outside the UK. It has also meant we have had 12 months of profitable trading and very strong results in the 1st quarter of this year, putting us ahead of plan.”
EMXCo now route around 40% of all mutual fund orders in the UK. In March alone, the EMX Message System routed over 1 million messages equating to €5.6bn in orders up by 66% on March 2005.