The fund managers, which have already worked with Euroclear UK & Ireland to automate order routing, selected EUI to automate the full processing cycle of transactions in their funds with the UK’s central securities depository.
Euroclear UK & Ireland CEO John Trundle said that the company is seeing growing momentum in the UK fund community to reduce the risks and costs associated with fund transaction processing.
"The combination of automated order routing services fully integrated with delivery-versus-payment settlement, offers Euroclear UK & Ireland’s clients a unique and effective means to achieve these objectives.
"F&C Investments, Liontrust Fund Partners and Old Mutual Global Investors are now among a growing number of fund managers, transfer agents and fund distributors benefitting from end-to-end automation in the UK fund industry," Trundle added.
The company said that agreement with EUI to use electronic and automated investment fund service will improve their transaction settlement, cash and fund unit balance reconciliations, re-registrations and portfolio transfers.
Euroclear UK & Ireland trades as a central securities depository (CSD) of the UK, Jersey, Guernsey and the Ilse of Man for all domestic securities, and of Ireland for equities.
