EFG Private Bank Ltd (owners of EFG Harris Allday) is the latest participant to sign up to Euroclear settlement through EMX.
Since its launch in 2009, the settlement solution from Euroclear enables participants to eradicate manual processing and reduce risk from order through to settlement.
Ron Treverton-Jones, Managing Director at EFG Harris Allday said: ‘We welcome and support the change in the industry and by using the system for our trades and settlement we can increase automation in funds processing and reduce our costs. Since joining the EMX Message System for orders, we have streamlined our dealing process and we are looking forward to achieving the same level of efficiency and reliability with Euroclear settlement.’
Yannic Weber, CEO of EMXCo said: ‘The demand for Euroclear settlement through EMX is gaining real momentum and we are delighted that EFG have added their name to the growing list of companies signing up to the solution. With increased automation, funds will become cheaper and more efficient to investors making them a more appealing asset class.’
