Cofunds teams with Broadridge for mutual funds orders

Source: Broadridge Financial Solutions

Broadridge Financial Solutions (NYSE:BR), formerly ADP Brokerage Services Group, has announced that it is now working in cooperation with Cofunds, the fund administration service provider, to enable UK retail and private client users of its Tarot solution to place orders for mutual funds.

Tarot is Broadridge's order transaction product that delivers STP for order capture, routing and execution of client orders and comprehensive back office processing. It delivers a platform for highly efficient and low cost operations on either an ASP service bureau or on-site. The new collaboration will enable Tarot users to place orders for mutual funds with Cofunds, via retail service provider Winterflood Securities Ltd's Winner Trader service.

"Historically, placing orders for mutual funds was labour intensive, time consuming and relied upon placing orders by telephone. The new functionality within Tarot increases efficiency and optimises STP for its users," said Amanda Fisher, Tarot Product Manager, Broadridge.

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