Achieving efficiency in the processing of orders of cross-border funds is an important goal of the European fund industry. The efforts in this area enhance the competitiveness of UCITS as a global brand and, in turn, the satisfaction of investors from Europe and the rest of the world.
Bearing in mind the significant potential cost savings that can be achieved in the processing of fund orders, EFAMA published in 2011 a set of recommendations covering the order and settlement process, transfers of title, and corporate actions. Furthermore, EFAMA is publishing twice a year in association with SWIFT a report showing the evolution of standardisation and automation rates of fund orders received by transfer agents (TAs) in Luxembourg and Ireland. The goal of this initiative is to inform all institutions involved in fund processing, as well as the European authorities and interested stakeholders about the industry’s progress towards greater automation of fund orders and use of the ISO messaging standards recommended by EFAMA.
EFAMA, in collaboration with SWIFT, has published a new report on the automation and standardisation rates of fund orders received by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland in 2020. The report highlights the progress made in the increased automation of fund orders and the use of ISO standards.
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EFAMA in collaboration with SWIFT, has published a new report on the evolution of automation and standardisation rates of fund orders received by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland - during the first half of 2019.
The report highlights the progress made towards the increased automation of the amount of fund orders, and the use of ISO standards. Twenty-eight TAs from Ireland and Luxembourg participated in this survey.
The key findings of the report include:
The report highlights the progress made in the increased automation of fund orders and the use of ISO standards.
Twenty-nine TAs from across Ireland and Luxembourg participated in the survey covering 80% of the Irish market and 75% of the Luxembourg market.
EFAMA and SWIFT publish on a bi-yearly basis trends in standardisation and automation rates of fund orders received by transfer agents (TAs) in Luxembourg and Ireland. These reports showing the evolution of standardisation and automation rates of funds orders are available on both EFAMA and SWIFT websites dating back to May 2009.
The report highlights the progress made in the increased automation of fund orders and the use of ISO standards.
Twenty-nine TAs from across Ireland and Luxembourg participated in the survey covering 80% of the Irish market and 75% of the Luxembourg market.
Key findings from the report include:
