Brewin Dolphin maximises Euroclear's fund processing infrastructure
Brewin Dolphin is a leading example of a Euroclear group client that has decided to maximise use of the multi-market infrastructure to process fund transactions. As a distributor of local and foreign funds to its clients, Brewin Dolphin is now able to easily and more efficiently reach fund promoters, transfer agents and other relevant parties outside the UK to settle fund transactions on behalf of its clients. This new development eases the often complex, manual and costly challenges of processing international fund transactions.
John Beeston, Director, Group Head of Business Support at Brewin Dolphin, commented: "We are committed to offering our clients a wide variety of investment opportunities efficiently and at reasonable cost. We have selected FundSettle and Euroclear UK & Ireland to settle fund transactions, as we believe the reach, automated features and comprehensiveness of their services will enable us to offer our clients more value at lower risk. We recognise the benefits in trading and settling our cross-border fund transactions through a single gateway, which maximises the use of existing links to the Euroclear group for settlement. In addition to STP efficiency gains, we will be able to process a higher number of fund trades and promote a shorter settlement cycle, due to automation."
Ivan Nicora, Director and head of Investment Fund Product Management at Euroclear,said: "Having worked closely with us in designing client-focused fund processing solutions, Brewin Dolphin's decision to migrate its fund business to Euroclear is a much-appreciated vote of confidence, particularly when there are many competing commercial solutions available. Euroclear UK & Ireland and FundSettle will provide Brewin Dolphin with greater scalability and lower levels of risk through automation and DvP settlement. Their decision to use both the CSD and ICSD platforms also reinforces the importance of flexibility in our fund transaction-processing infrastructure in meeting client needs for local market and cross-border transactions."
The Brewin Dolphin Group manages GBP 23 billion of funds for over 130,000 private clients and of this over GBP 13 billion is on a discretionary basis. Brewin Dolphin has 41 offices throughout the UK and Channel Islands. Brewin Dolphin Corporate Advisory and Broking is adviser to 90 small and medium-size quoted companies and institutions.
Brewin Dolphin Limited ("BD") is the principal operating company of Brewin Dolphin Holdings PLC. BD is authorised and regulated by the Financial Services Authority and is a member of the London Stock Exchange.
The Group provides a complete investment management and financial planning service for private investors, charities and pension funds, and has Corporate Advisory and Broking Services. Stocktrade is the Group's Execution-Only telephone and on-line dealing division.
The Brewin Dolphin Research department won the Investment Week 2010 Award for best discretionary research. The Brewin Dolphin Group was named Best Discretionary Broker in the Shares Awards 2009 and also received the top awards for its Market Newsletter and Exceptional Performance in Business Support at The Daily Telegraph wealth management awards in 2009.
Please see the Media Centre section on our website: http://www.brewindolphinmedia.co.uk/brw/media/
FundSettle provides a single access point for fund buyers to process subscriptions, redemptions, transfers and switches, covering more than 48,000 investment funds worldwide and over 530 transfer agents. The fully integrated solution, offering settlement and asset servicing, delivers savings of up to 85% to fund distributors.
Euroclear UK & Ireland
Euroclear Bank is the world's largest provider of settlement and related securities services for cross-border transactions involving domestic and international bonds, equities, derivatives and investment funds. Serving major financial institutions located in more than 90 countries, Euroclear Bank, based in Brussels, is part of the Euroclear group. Euroclear Bank is rated AA+ by Standard & Poor's and Fitch Ratings.
The Euroclear group also includes Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. In addition, Euroclear owns Xtrakter, operator of the TRAX trade matching and reporting system. In 2009, the Euroclear group settled more than EUR 514 trillion in securities transactions, representing 180 million domestic and cross-border transactions, and held more than EUR 20 trillion in assets for clients.
For more information, please visit the Euroclear website:www.euroclear.com.