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MFT passes $1 trillion Swift mark

24 November 2008  |  1941 views  |  0 Source: Mutual Fund Technologies

Mutual Fund Technologies (MFT), the specialist transfer agency software, services and consulting company, recently passed $1 trillion in the value of Swift trades processed through its 'Message Exchange' - the straight through processing (STP) module for its transfer agency platform.

With close to 150 distributors now linked to the 'Message Exchange' and processing deals through the hub, global users are able to take advantage of a variety of STP solutions, including Vestima+ and Fundsettle. These types of STP solutions are critical to financial organisations in the current market conditions, as they look to increase automation and reduce risk. This significant milestone can be attributed to the popularity of STP generally, as well as the introduction of SWIFT XML functionality, new distributor take-ons and the success of MFT's existing customers.

David White, Executive Director, MFT commented: "We continue to witness increased use of our STP solutions, particularly amongst our customers in Europe and Asia. Reaching the trillion dollar milestone is a considerable achievement and is a testament to our customers and our own investment focus on this area over the past five years."

Edward Glyn, Director - Funds, EMEA at SWIFT remarked "Congratulations to MFT on this significant milestone. Community collaboration, harmonised standardisation and a secure network all play essential roles in bringing efficiencies to the fund industry. We look forward to continuing our work with MFT to remove operational risk and cost whilst driving distribution, automation and value to our joint client base."

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