Fund-Technology.com

MFT report record levels of STP traffic

Posted: 09 June 2009

Demand for cost efficiency, reduced transaction processing and the dynamics of global distribution are contributing to a steep rise in the popularity of STP, according to Mutial Fund Technology (MFT). Last month, across its global customer base, MFT processed its 2.5 millionth SWIFT message and 1.5 millionth EMX message.

In a market downturn, not only do fund groups have to maintain customer service with reduced headcount and budget, they also have to prepare for an upturn in which compliance with new regulatory scrutiny, risk avoidance and transparency, will be at a premium. Meanwhile, the demand for global distribution, the advent of offshore funds and developments in Asian markets striving to achieve automation for cross border flows, common standards and a modern electronic marketplace, are powering new standards of transaction processing.

David White, Head of Operations at MFT says; "STP is moving up the priority ladder for fund managers balancing the challenges of reduced cost and expanded service. We will continue to innovate on behalf of our clients across Europe and Asia, ensuring that STP delivers on its promise throughout the processing lifecycle".

SWIFT and EMX are key components of MFT's ‘Message Exchange' - the STP module available as part of the company's GFAS transfer agency platform. With more than 150 fund distributors now linked to the service, global users are able to take advantage of a variety of STP solutions, including direct SWIFT access, EMX, Vestima+, Fundsettle. These latest milestones can be attributed to the popularity of STP generally, as well as the increased use of SWIFT XML functionality, new distributor take-ons and the success of MFT's existing customers.

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