Euroclear to decrease FundSettle prices by up to 85%
Euroclear has announced a major new FundSettle initiative, with Europe’s leading fund promoters, to entice fund distributors still processing fund transactions manually to automate and standardise their back-office practices. Fully automating transaction processing in the fund industry will save the market an estimated EUR 300 million.
With only about half of all fund transactions in Europe currently processed using automated solutions like FundSettle, overall costs and risks for end investors remain unnecessarily high and the growth potential for funds is restricted.
Euroclear Bank, together with fund promoters that are eager to eliminate manual processing with all of their fund distributors, will provide financial incentives to fully automate.
– www.theasianbanker.com (May 9 2008)–