Selestia has improved its communication abilities and fund dealing capacity by being the latest addition to the EMX Message System, a funds messaging platform.
The system, launched in June 2000, helps to automate the purchase, sale, valuation and settlement of unitised funds, and it will be available across Selestia’s range of investments including:
- Collective investment account,
- Pep and Isa transfers,
- Onshore bonds
- Offshore bonds, and
- Its collective retirement account
EMX says the system, which processes around one million messages a month, provides a cheaper, faster and safer alternative to paper-based, phone or fax processing, by offering straight through processing delivered by one set of data.
As a result, it says it not only offers an electronic audit trail to improve efficiency, it also enables a high level of automation which reduces and in some cases even eliminates the need for human intervention to make fund dealing easier.
Bill Vasilieff, marketing director at Selestia, says: “EMXCo has a robust reputation in the market and is a vital component for effective communication between platforms and fund managers, and this is the next step in realising the benefits of technology.”
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