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Fidelity International’s defined contributions pensions business is the latest life platform to join the EMX Message System. Going live via a FIX connection, this is operated by FIL Life Insurance Ltd.
Julian Webb, Head of UK DC at Fidelity International, said: ‘Fidelity has always been committed to offering its clients a platform with high levels of operational efficiency. We were the first DC platform to offer straight through processing of inbound deals and working with EMXCo enables us to build yet more automation into our processes for outbound deals. Members using the Fidelity platform can now have deals go from scheme to platform to the underlying manager and back again without any manual intervention. This improves dealing times and reduces the risk of errors..’
Yannic Weber, CEO of EMXCo said: ‘As a group, Fidelity is already a very significant client so I am delighted to welcome their DC platform to the EMX Message System. The continued support of such major players combined with a fantastic number of new joiners has helped us deliver record volumes through the system in the first quarter of 2009. On a like for like basis our message volumes in February were up by 23% compared with Feb 2008 and our number of distributers has risen by 62% compared to a year ago."
