Brussels, 10 October 2012 – The European Fund and Asset Management Association (EFAMA) today published, in cooperation with SWIFT, a mid-year report* on the evolution of automation and standardisation rates of fund orders received by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland in the first half of 2012.
The new report is an on-going effort undertaken by EFAMA and SWIFT to highlight the advancement of automation and standardisation rates of orders of cross-border funds. 32 TAs in Ireland and Luxembourg, representing more than 80 percent of the total incoming third-party investment funds order volumes in both markets, participated in the survey.
o In Luxemburg, the total automation rate (ISO + proprietary ftp) increased by 2.9 percentage points to 73.1% in Q2 2012 compared to Q4 2011. The ISO standardisation rate reached 55.2% (+ 2.5 percentage points).
o In Ireland, the total automation rate increased by 0.4 percentage points to 84.6% in Q2 2012; while ftps still represent the bulk of it, the ISO adoption rate made a progression of 4.2 percentage points to 17.3% in Q2 2012. The ISO standardization rate has doubled in Ireland over the last two years, reaching 17.3% in Q2 2012 against 8.5% in Q2 2010.