JHC and CoFunds create fully automated interface

This replaces a rudimentary file transfer third party product currently used by some FIGARO users. The new interface provides a transmission and translation service for Cofunds Trade Input and Output messages, in a secure format. This interface is currently in the process of being deployed in a number of FIGARO sites.

JHC is continually investing in the development and enhancement of FIGARO to provide new and improved functionality and performance. FIGARO is a truly market-leading solution, which allows our clients to remain competitive in their market and protect their investment in technology. The automated interface with Cofunds further enhances the FIGARO offering, and provides time and cost savings for clients in the handling of funds transactions within their client portfolios. FIGARO is a fully integrated STP solution and is unrivalled in its depth and richness of functionality and process automation. Leading stock broking and wealth management firms deploy FIGARO as their core integrated front to back solution for equity and funds trading.

Peter Murphy, Head of Figaro Product Development says: "The ability to be able to offer direct messaging links to Cofunds is great news to our clients as it gives them immediate access to an extensive range of funds available in the UK, as well as saving our clients time and money. We are also pleased to support our clients who have introduced automated portfolio management, to create rebalancing with straight through processing for both equity and funds trading"

Matthew Ferman, Head of Institutional Product Development at Cofunds said: "A large number of our existing and prospective client base use the Figaro system, which is why we've identified this as a key strategic partnership to offer straight through processing. We've developed seamless data integration, providing Figaro users with an 'out of the box' solution to their fund administration problems.