INTELLIGENT BRANDS // Software for Business
Solution enables to electronically
access and trade unitised funds
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ilica, powered by IRESS, has launched
a solution that enables users
across the IRESS product suite to
electronically access and trade unitised
funds from major South African asset
and investment managers. This solution
removes the pain of investing and drives
administration costs down for all players in
the value chain-advisers, asset managers
and end-clients alike.
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The Silica IRESS Funds Trading solution
enables the IRESS community to access
the Silica platform via the IRESS SmartHub
– a global network connecting buy and sell
sides, trading destinations, vendors and
administrators using IRESS APIs or the
standard global FIX protocol. The IRESS
SmartHub integrates with Silica’s Graphite
interface, a Microsoft cloud-deployed solution
that leverages Silica’s transactional order
management utility to automate transactions
and cash movements.
The Silica IRESS Funds Trading Solution
creates an open market where investment
managers can seamlessly make their
funds available to advisers and investors.
It automates every transaction from FICA
document verification, new investments
and additions, through to fund switching,
payments, and fee, client data, and payment.
This makes the trading of funds as fast,
efficient and transparent as trading
exchange-listed securities. It also enables
advisers to offer their clients the broadest
range of funds from leading investment
managers at the lowest possible cost.
“Sixteen years ago, IRESS spearheaded
electronic order routing for exchange-traded
securities in the South African market,” said
Richard Bell, Executive Manager and Head of
Funds Trading at IRESS.
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“Now, we are bringing the same level of
automation to the unitised sector, enabling
advisers to trade any instrument in any
market and at any time. They will have
a single view of each client’s portfolio in
real time, as well as the ability to execute
orders instantly without the delays of the
past. They will also be able to reduce errors
through electronic processing and minimise
administration through effortless electronic
account opening.” Financial advisers and brokers can directly
interact with, interrogate and report on data
from investment managers’ systems. Cash
movements can be facilitated through EFT or
direct debits.
Daniel Micali, Director at Silica, added: “For
investment and asset managers, the benefits
of the solution include lower administration
costs, improved margins and the ability to
access new distribution channels. End-
investors, meanwhile, benefit from lower
fees and a more streamlined customer
experience with less paperwork to be
completed. We want to make it as easy for
people to invest, save and grow their wealth
as it is to apply for a loan.” “Fees are coming down in the asset
management industry and it will become
increasingly difficult to compete without
using technology to streamline processes,”
said Chris Nel, analyst at Kruger International.
The partnership enables advisers and
investors to transact electronically with
investment managers and their funds
without the need for human intervention.
Kruger International Asset and Wealth
Management, which provides advice and
wealth management solutions to private
clients, as well as managing funds of its own,
is an early adopter of the solution.
“This solution is already helping us to
achieve significant efficiencies and reduce
human errors in processing transactions.
We now have real-time access to accurate
data about our clients’ portfolios, as well as
the ability to scale up our business to serve
more clients more efficiently. This translates
into a better client experience and enables
us to focus on adding value rather than
processing paperwork.” n
www.intelligentcio.com
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