Euroclear to standardise fund transactions following acquisition

Euroclear is planning the development of an automated and standardised order-messaging and settlemen...

Euroclear is planning the development of an automated and standardised order-messaging and settlement solution for UK fund transactions following its acquisition of EMXCo. Euroclear, owner of CRESTCo, said the combination of EMXCo and CRESTCo will mean reductions in manual overheads, including settlement and asset servicing cost savings of up to 50%. Tim May, chief executive officer at CRESTCo, said processing for UK mutual funds is plagued with inefficiencies, cost and risk, but the acquisition would help to eliminate operational burdens. Major EMXCo shareholders Fidelity Internation...