Fidelity Investments partners Euroclear for same-day funds processing
06 May 2003 | 8196 views | 0
Fidelity Investments is offering a same-day processing service to distributors of its European funds via Euroclear's cross-border processing platform FundSettle.
Fidelity says all its fund transactions conducted through FundSettle are now processed without any manual intervention and its recent decision to communicate with the platform using 15022 message types through SwiftFin has streamlined the process even further.
Ted Boyle, managing director of operations, Fidelity Investments, says the firm has been working with Fundsettle since May 2001 and has placed more than 130 funds on platform.
"Only through the highly automated and standardised fund transaction processing capabilities of FundSettle are we able to offer fund distributors a same-day STP service for Fidelity funds," he adds.
Euroclear says the continuing growth in both transaction volume and the number of funds eligible for processing on FundSettle indicates a strong interest in an automated and standardised solution to process fund transactions on a straight-through basis.