Large parts of the world’s fund industry are struggling to contain the impact of late cash settlements in their fund transactions. The effects range from unwanted credit exposures and time-consuming and costly administrative burdens to damaged client relationships.
The survey exposes the need for more automation of trade to cash settlement processing – and in the updating of trade registers.
These are some of the findings of a survey conducted by Calastone of 51 leading investment managers and fund distributors in the UK, Europe, Australasia and Asia.
Key headlines include:
- 100% of firms have to intervene manually in the cash settlement process
- Manual processing is the primary risk in the cash settlement process – 59%
- Late payments significantly affect client service – 59%
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