Charles Schwab Europe is to offer investors online access to MoneyMate fund data via its Schwab Fund Select service, which went live in March of this year.
Schwab Fund Select is a discounted funds service offering investors access to 130 unit trusts and OEICs from eight leading fund managers at reduced rates.
Using the data provided by MoneyMate, customers will be provided with in-depth research and information for every UK registered unit trust or OEIC, helping them make more informed investment choices when selecting and trading funds, says the company.
The fund information is being delivered via MoneyMate's Web Services solution. Whenever a user of the Schwab service makes a request for fund information, this request is sent via the Internet to the MoneyMate server. The required data is then sent from MoneyMate in XML back to the Charles Schwab server where it is formatted and displayed almost immediately on their Web page.
Pam Wilde, director of wealth management services, Charles Schwab, says: "This hosted XML solution means we can immediately present comprehensive fund data to our users, but not incur the overhead of maintaining the data in-house. The speed, at which XML delivers the data back to us, means we can meet our customer's demands straight away with the most up to date fund data, returned without delay."