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Fund processing standardisation

 

Achieving efficiency in the processing of orders of cross-border funds is an important goal of the European fund industry.  The efforts in this area enhance the competitiveness of UCITS as a global brand and, in turn, the satisfaction of investors from Europe and the rest of the world. 

 

Bearing in mind the significant potential cost savings that can be achieved in the processing of fund orders, EFAMA published in 2011 a set of recommendations covering the order and settlement process, transfers of title, and corporate actions.  Furthermore, EFAMA is publishing twice a year in association with SWIFT a report showing the evolution of standardisation and automation rates of fund orders received by transfer agents (TAs) in Luxembourg and Ireland.  The goal of this initiative is to inform all institutions involved in fund processing, as well as the European authorities and interested stakeholders about the industry’s progress towards greater automation of fund orders and use of the ISO messaging standards recommended by EFAMA.

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