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15 October 2018

EFAMA updates its recommendations for fund processing with its latest report


The EFAMA has published its fifth Fund Processing Report, presenting recommendations put forward by the Fund Processing Standardisation Group (FPSG) to the funds industry. The report still encompasses the full scope of activities from the initial report but will now also include new sections aiming to enable increased efficiency in fund processing.

The report puts forward recommendations in the following key areas:

Supporting the Capital Market Union and embracing technology

The updated Fund Processing Standardisation Report's recommendations build on the EC driven European Post Trade Forum (EPTF)'s recognition of EFAMA's role in fund processing and the aim to promote more efficient and resilient market infrastructures in the EU as part of the Capital Markets Union project. In this fourth edition, EFAMA offers several general and specific recommendations to facilitate and improve the level of automation and straight through processing (STP) within the European funds industry.

Remaining a catalyst for change and building a truly global approach

In spite of significant progress made since 2005, many inefficiencies in fund processing are still apparent in the cross-border distribution of funds. The adoption of ISO 20022 by participants and infrastructure providers has certainly improved what is a very important part of the European fund industry, which offers UCITS beyond Europe, particularly Asia and Latin America, but the importance of a truly, homogenous global approach to fund processing remains as high as ever.

EFAMA encourages national initiatives for the improvement of cross-border and domestic investment in funds such as in France and Italy, which demonstrate the ongoing demand for fund processing automation based on standardisation. In that context, it points out that only when the necessary changes are implemented by all industry players will the benefits be delivered to the market as a whole.

The report also outlines the continued need for data and monitoring tools to assess the take up of automation in fund order processing and the adoption of ISO standards.

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© EFAMA - European Fund and Asset Management Association


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