Co-operative Insurance Society has signed up to the EMX Message System.
The system now has 204 distributors and 61 fund managers trading through the EMX message system, which claims to be the standard for straight through processing in the funds industry.
Last month it routed over 1.3m messages.
EMXCo head of sales and marketing Tony Wood says: “We now have 61 Fund Managers and 204 Distributors trading via the EMX Message System and we are delighted to welcome the Co-op on board.”
Co-Op insurance services investment manager Linda Desforges says: “The EMX Message System greatly improves the efficiency and accuracy of our dealing process for external funds. We now have a system that reduces the likelihood of human error and provides the status of each individual order. Problem trades can now be spotted in a more timely manner.”