Investia, a UK-based provider of financial STP solutions, has released an investment funds processing platform that implements the new Swift XML message standards.
Investia says the platform is the first to deliver complete automation of the entire trade lifecycle - from order entry and routing, to unit pricing, clearing, settlement and custody - for UK, offshore and German domestic funds.
The system, which can be used for both retail and institutional funds processing, incorporates the new Swift XML message standards with FIX engine technology to route fund orders simultaneously to the major European messaging and clearing hubs, including Clearstream Vestima, Euroclear Fundsettle and EMX. In addition, Investia Platform 1.0 accepts and routes equity orders to brokerages and clearing houses.
Mark Collier, chairman and CEO of Investia, says the product allows customers "to rapidly link to processing partners, to quickly implement new service and holistic wealth management offerings, and to efficiently manage their back-office processes and associated risks."
The vendor launched its Investia Javelin platform into the European marketplace in October 2001.
In February 2003 Investia became a member of the newly formed Swift Partners Investment Funds Automation Working Group (SPIFA) established with the mandate to review, validate and promote the integration of Swift's business solution for investment funds distribution into applications and services.