- The report covers 31 TAs in Ireland and Luxembourg, representing above 80% of the total incoming third-party investment funds order volumes in both markets. 11.3 million incoming orders have been processed during the first half of 2010. This is an increase of 28% compared to the first half of 2009.
- The total automation rate of orders reached 74.5% in Q2 2010 compared to 73.7% in Q2 2009. The ISO messaging standards adoption rate increased from 29.9% in Q2 2009 to 35.8% in Q2 2010, to the detriment mainly of proprietary file transfers.
- 47% of the orders sent by an Asia-Pacific-based institution directly to Luxembourg TAs were received in an automated way in Q2 2010, compared to 46.3% in Q2 2009. The ISO adoption rate in Asia-Pacific shows the highest increase: it stood at 13.6% in Q2 2010 compared to 10.8% in Q2 2009. This was mainly to the detriment of proprietary file transfers.
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“The high total automation rate of orders and the significant increase in the use of ISO messaging standards represent encouraging trends.” Peter De Proft, EFAMA Director General |
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“The findings show market players are implementing EFAMA’s recommendations by working simultaneously on “killing the fax” and standardizing their automated flows on ISO 20022.” Michèle De Boe, Head of Funds – Marketing Division, SWIFT |
Joint EFAMA SWIFT Standardization Survey Mid2010 - November 2010 |
| Ireland |
| Fund Processing Standardization - Annual Report on Industry Progress |