The European Fund and Asset Management Association (EFAMA) have taken the next step in their initiative to facilitate the trading of funds, called the Fund Processing Passport (FPP), by publishing a brochure with details of the proposal .
According to EFAMA, the FPP will facilitate trading by providing all key operational information that fund promoters should provide. Six European associations in the financial sector, including the European Banking Federation, the Forum of European Asset Managers and the Industry Standardization for Institutional Trade Communication Europe, have registered support for the scheme. The associations involved share the view that simplifying processing procedures would facilitate dealing in fund units, reduce costs and operational risk, and support the implementation of open architecture solut...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
