EMXCo has announced record volumes through the EMX Message System with over 5.5 million messages through the system to date this year equating to over EUR 12 billion in funds flow.
Volumes in February were up 23% on the previous year and with March having already delivered the best ever week, it is set to be yet another record month for EMXCo’s fund messaging system.
Yannic Weber, CEO of EMXCo said: ‘It is great to see the industry backing us as the messaging system of choice for funds as they see how, together with Euroclear UK and Ireland, we are leading the market in delivering automated settlement in the same way as we have always done for order routing.
Our growth continues to be driven by wider adoption from our existing clients as well as new joiners and it is incredible that we have increased the number of distributor clients by 62% compared to this time last year.
We have a very strong sales pipeline for this year and expect our volumes to continue to rise.
I would like to thank all of our participants for their support during what are clearly difficult times in the financial market.’
EMXCo are committed to driving down the cost of funds processing and have delivered the cash phase of their settlement solution with a number of high profile participants already signed up to the service. Later this year, a second phase will be launched to include the stock element providing full automation of funds dealing from orders through to settlement.
