Euroclear wins settlement service mandate 31 October 2018London Reporter: Maddie Saghir
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Smith & Williamson Fund Administration Limited (SWAFAL) has gone live with Euroclear UK and Ireland’s (EUI’s) investment fund service.
According to Euroclear, EUI’s investment fund service delivers end-to-end automation from order placement to settlement and asset servicing.
It also reduces operational and counterparty risks, improves liquidity management, and gives certainty of settlement.
As well as this, the investment fund service improves liquidity management and gives certainty of settlement, which makes the back office function safe and reliable, Euroclear revealed.
Additionally, clients will benefit from clearer visibility of their settlement obligations and are able to manage cash flows better, according to Euroclear.
SWAFAL has provided standalone fund administration services since 1983 and now acts as an authorised fund operator providing the regulatory framework for 170 funds for investment managers, family offices, and private individuals.
Brian McLean, director of SWFAL, commented: “This is a great step forward for us as we look to provide new and alternative automated routes, for investors to trade and settle SWFAL funds.”
“We are delighted to partner with EUI in this venture and see this as a major milestone in the growth potential and service offering of our business.”
John Trundle, CEO, Euroclear UK and Ireland, added: “We are extremely pleased that Smith & Williamson has chosen our service.”
“We are committed to providing clients with a simple, reliable and fully-automated solution for fund order routing and settlement. The resulting operational efficiencies reduce risk and save costs for clients.”
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