Dion delivers STP to UK platform Cofunds
Technology company Dion Global Solutions has developed an interface between its Invantage solution and Cofunds, a platform distributing funds in the UK market, which enables straight through processing for dealing in and administration of holdings.
The solution also facilitates execution, settlement, asset servicing and commission management. The facilities may target the UK wealth market in particular, because of market trends that Dion said are resulting in greater use of funds to provide diversification.
Ron Tomlinson, head of UK Development at Dion, said: “We are seeing funds investment growing in popularity in the wealth management sector because of the diversification benefits it brings. At the same time, current market pressures mean our clients are always looking for the most efficient way to process their investments. The development of the interface is a direct reaction to this. Not only does it reduce risk through removing the need for manual data processing, it also makes it easier and more cost-effective to execute and manage funds within Invantage.”