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Euroclear UK & Ireland 33 Cannon Street EC4M 5SB London http://www.euroclear.com
Contact Mr Martin Gregson +32 2 326 41 86
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Euroclear UK & Ireland

Strate and Euroclear to address fund processing inefficiencies

(PresseBox) (Brussels / Johannesburg, )
Strate and Euroclear have signed a Letter of Intent to explore a new approach to automate the processing of mutual fund (unit trust) transactions for South Africa. The initiative is strategically aimed at establishing a fully electronic environment for the industry and investors in local funds.

The current administrative processes associated with the South African mutual fund industry are fragmented, with no automated way to link cash payments with fund unit orders in a low-risk environment. Through the collaborative initiative with Euroclear, Strate are looking to work with the local industry to explore the implementation of an electronic and
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