Fidelity/Euroclear team up for same-day order-processing
EUROPE - Fidelity Investments is offering a new same-day order-processing service through Euroclear’s cross-border fund processing platform, FundSettle.
The service covers Fidelity’s family of funds distributed in Europe.
Ted Boyle, managing director (operations) at Fidelity Investments, said: We have been working with FundSettle since May 2001 and are convinced of its added value to the fund industry.”
Barbara Vuylsteke, director and head of investment fund product management at Euroclear, the world's largest settlement system, said: “The growth in the volume of transactions processed and the number of funds eligible for processing on FundSettle indicates strong interest for an automated and standardised solution to process fund transactions on an straight-through basis.
Schroders boosts fee administration
UK - Schroders has boosted its fee billing and revenue administration with help from software consultants, Citisoft.
Schroders has set up a team to co-ordinate invoicing and revenue calculation for its four London-based institutional business units.
It will use the Advantage Fee System from Interactive Technologies which will calculate and report fees for portfolios in London and New York and will also fully automate the calculation of monthly accruals.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.