Euroclear adds money market funds to processing platform
12 November 2003 | 3268 views | 0
Euroclear has added money-market funds processing to its Internet-based cross-border platform, FundSettle.
FundSettle now features more than 110 money-market funds, denominated in
EUR, USD and GBP.
Barbara Vuylsteke, director, investment fund product management, Euroclear Bank, says: "The acceptance of money-market funds on FundSettle broadens the range of operational efficiencies that we can offer the fund industry, specifically to facilitate liquidity management."
Euroclear says the new feature also enables investors to offer their clients same-day subscriptions in a variety of money-market funds. In particular, the ability to place orders and settle them on trade date is expected to improve investors' short-term liquidity management.