February 2014 - Cash settlement facilitation

Phase 2 of the Fundsquare infrastructure: cash settlement facilitation

The ideal complement to order routing and information exchange

Phase 1 of the Fundsquare infrastructure, order routing services for the fund industry, has been up and running since September and increasing numbers of fund buyers, fund distributors and transfer agents are being onboarded. 

At the request of our Super User Group, which is composed of twenty-five important actors in the fund industry, we were asked to analyse the possibility of offering cash settlement in addition to order routing.

Value-added services such as this are fully in line with the Fundsquare objective to substantially support, facilitate and standardise the cross-border distribution of funds.  

We believe that cash settlement will be the ideal complement to the current order routing solution together with the fund information exchange platform.

A 1-2-1 service is planned to be rolled out as a first step, i.e. one cash movement and payment linked to one transaction.

It is important to note that Fundsquare does not intend to become a cash clearer but rather will only propose facilitation services.

Next steps

Fundsquare will now start meeting potential clients and users of the service for preliminary discussions to assess the solution and services, as well as to obtain commitments before the launch of the project.

Currently, we foresee an operational launch before mid  2015.

_{Published on: 28 February 2014}
 

Fundsquare News 7 - February 2014