19 April 2018
Gary Wright

Gary Wright

Gary Wright - BISS Research

277Posts 1,073,346Views 369Comments


A place to discuss MiFID
A post relating to this item from Finextra:

Legal and General brings full fund range to EMX Message System

21 July 2009  |  2906 views  |  0
From the 3rd July, Legal and General (Unit Trust Managers) Ltd has made its full range of funds available on the EMX Message System.

Building from scratch to change the industry

28 July 2009  |  3916 views  |  0

I have written before about EMXCo the messaging system for Unitised Funds owned by Euroclear and how they continue to add new important institutions and intermediaries onto their system. It has just been announced that Legal & General (L & G) are making all their funds available over the network.This is really great news for the funds industry and should encourage any remaining sceptics that EMXCo is the place to go.

Its funny how, despite the outstanding success of EMXCo it appears that there are still some people are willing to doubt this initiative. I suspect its more a question of these people being unable to see that change is necessary and that EMXCo can thrive in a world dominated by SWIFT.

I wrote a few months back about the EMXCo settlement messages and how this great development makes use of Euroclear to provide the Funds industry with STP in an area loaded with archaic operations. With L & G now immersed in EMXCo could this accelerate the wider user of the settlement service?

EMXCo and Euroclear have to be congratulated on their continuing success, which I understand has shown a 24% increase in messaging volume, than at the same stage last year. Fantastic as the market has hardly been buoyant. Nearly 23 million messages were going through the system in 2008 and they look on course to push towards the 30 million mark this year. Although this is mainly UK I have noticed that the European volume is also increasing.

It’s worth noting that radical change has been made to an almost Victorian business by the skill and willing of the visionary financial services firms that originally funded EMXCo. The early years were not easy and many mistakes were made but also some exceptionally good planning and management turned the ship around. Now Euroclear are able to add some impetuous to an already successful company to take it to the next level.

What is the next level?

read more..


TagsPost-trade & opsRetail banking

Comments: (0)

Comment on this story (membership required)

Latest posts from Gary

Wealth Management - Turkeys Vote for Christmas

27 September 2013  |  3857 views  |  0 comments | recomends Recommends 0

The future of systems in financial services

29 July 2013  |  3573 views  |  0 comments | recomends Recommends 0

Social media and trust in financial markets

25 June 2013  |  6149 views  |  0 comments | recomends Recommends 0

Technology changing the markets

25 June 2013  |  3432 views  |  0 comments | recomends Recommends 0

Technology begins to change

14 June 2013  |  2971 views  |  0 comments | recomends Recommends 0

Gary's profile

job title Analyst
location London
member since 2007
Summary profile See full profile »
CEO of B.I.S.S. Research, founder of the BISS Independent Accreditation for all systems and services provided to financial services companies internationally. Guest Lecturer at Reading University and...

Gary's expertise

Member since 2007
277 posts369 comments

Who's commenting on Gary's posts