Brewin Dolphin, a UK-based investment management firm, has selected Euroclear Bank’s solutions to maximize use of its multi-market infrastructure to process fund transactions.
Euroclear Bank’s FundSettle platform will be used by the Brewin Dolphin to settle cross-border fund transactions and the Delivery-versus-Payment (DvP) settlement service for UK fund transactions offered by Euroclear UK & Ireland.
Brewin Dolphin said through these solutions it will be able to efficiently reach fund promoters, transfer agents and other relevant parties outside the UK to settle fund transactions on behalf of its clients.
Brewin Dolphin Business Support Group head and director John Beeston said that the benefits in trading and settling our cross-border fund transactions through a single gateway will maximise 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,” Beeston said.
Euroclear Investment Fund Product Management head and director Ivan Nicora said that 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,” Nicora said.