JPMorgan FundsHub, a provider of outsourced dealing, settlement and reconciliation services for the European fund distribution industry, has subscribed to Dublin-based MoneyMate's newly launched intraday fund pricing service.
FundsHub is a joint venture between JPMorgan and London-based financial software vendor Investia that was formed to provide outsourced fund supermarket solutions to European firms.
MoneyMate says its new service will initially deliver up to 4000 validated fund prices for the JP Morgan FundsHub platform.
David Moffat, marketing director, JP Morgan FundsHub, says: "The ability to receive fund prices through-out the day will allow us to improve timeliness and quality of service to our clients and their customers."
Moffat says the firm wanted to outsource the collection, validation and redistribution of the fund prices.
"It was critical to us that MoneyMate was able to commit to 100 per cent accuracy as we will be using these prices for dealing and valuation purposes," he says.
MoneyMate says it is continuing to seek new contracts for the service and it aims to deliver intraday pricing for all European funds.