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City Financial offers trust and Oeic admin online

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City Financial is setting up an e-commerce platform to provide third-party

admin for unit trusts and Oeics.

The Io system, which uses the EMX platform, allows users to trade unit

trusts and Oeics over the net from the provider&#39s own website.

Unit trust managers outsourcing their back-office systems to City

Financial can offer advisers a link to EMX. IFAs, direct customers and

salesforces not linked to EMX will also be able to trade through the

provider&#39s websites. The Io platform will be further developed to use

digital signatures and electronic payments. Io&#39s processing system can

automatically process orders.

City Financial chief executive Stephen Cooke says: Buyers, whether direct

subscribers or IFAs, will demand such functionality. A lack of it will

signal systems&#39 backwardness and they will shop elsewhere.”

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