19 February 2018
visit www.ebaday.com

Euroclear Sweden extends funds universe via FundSettle

20 March 2014  |  1314 views  |  0 Source: Euroclear

Euroclear Sweden, the Swedish Central Securities Depository (CSD), today launches a link to Euroclear Bank's automated processing platform for cross-border and domestic funds - known as FundSettle.

In so doing, Swedish investment firms now have access to over 80,000 foreign funds from over 25 markets via Euroclear Sweden.

Swedish distributors, cross-border fund management companies and transfer agents now benefit from automated fund-transaction order routing between relevant parties on a straight-through processing basis at Euroclear Sweden.

Paul Brady, Director at Franklin Templeton Investments, said: "We welcome this initiative as we strongly believe that we will continue to be able to deliver our funds to this important Nordic market, via a proven, safe and efficient distribution network."

Anders Löfgren, Head of Product Management at Euroclear Sweden, stated: "Greater fund processing efficiency is an area where our infrastructure role is adding value by slashing back-office processing costs and risks through automation and standardisation. The Swedish fund market enjoyed a phenomenal 2013 in terms of net inflows, up SEK 430 billion (EUR 484 million) on the previous year, according to Fondbolagens Föreningen (Swedish Investment Fund Association). This strong trend of fund buying has continued into 2014, and spurred Euroclear to further strengthen its operational support to the Swedish investment industry by expanding the scope of possibilities and diversification opportunities to all relevant parties."

In subsequent phases, Swedish fund companies which today manage roughly 1,400 funds worth SEK 2.4 trillion (EUR 270 billion) are planned to be made available to non-Swedish investors, via FundSettle, for automated, electronic transaction processing in the coming year.

This new fund service at Euroclear Sweden is a core part of Euroclear's overall objectives for investment fund processing; a fully automated pan-European investment fund solution giving all Euroclear clients easy access to domestic and international funds, as well as a choice of services and coonnectivity options. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.nextgenbanking.co.ukvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11471 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9031 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8893 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8797 views comments | 15 tweets | 43 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
7402 views comments | 12 tweets | 10 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job