Ensuring advisers are getting the message

technology

Messaging systems enable straight through processing for trading, valuing and settling investments, such as unit trusts, Oeics and hedge funds. They can save time, money and achieve greater accuracy

Let us go back to 1999 - a time when dinosaurs ruled the world of fund dealing. Every day intermediaries had to telephone or fax their deals in investment funds to each and every fund group with whom they wanted to deal. Between the advisers sending in the orders and the administrators punching the deals into the system, errors would occur and these would take time and money to put right. Additionally, when a client valuation was required, each group had to be contacted and their valuations assembled. And discretionary advisers who kept records on a nominee system had to reconcile all th...