After 12 months of operation in Europe, Euroclear is about to start marketing its FundSettle platform to Asian distributors of mutual funds. Designed to streamline the placement, processing and settlement of fund sales and redemptions, the system will be first offered in markets with high offshore fund penetration such as Hong Kong and Australia.
FundSettle allows third party distributors to process mutual fund sales and redemptions through an electronic platform using web technology. The system already gives distributors in Europe access to 13,000 funds registered in offshore jurisdictions such as Dublin, Luxembourg and the Channel Islands. By the end of this year, Euroclear hopes to offer access to a complete range of...
