Euroclear Sweden is launching a new service to automate and standardize fund-transaction processing, Mondovisione reports. Fund managers, fund distributors and transfer agents in Sweden will gain from automated fund-transaction order routing between relevant parties and settlement of the cash-related part of the transaction on a straight-through processing basis at Euroclear Sweden.
The company’s clients, including Carnegie Fonder, Catella Fondförvaltning and Nordnet, have signed up as pilot users of the service. The company may also leverage Euroclear Bank’s cross-border FundSettle service in providing Swedish firms with access to over 50,000 foreign funds and trading counterparties from over 30 markets through Euroclear Sweden.
Click here for the story from Mondovisione.