Xafinity Paymaster launches straight through processing service

October 19, 2009

Xafinity Paymaster has started live trading with its fund managers after launching its straight through processing (STP) service.

 

The organisation has automated the investment process using two practices called the Altus Instruction Gateway and ViaNova. The latter allows pension administrators to send investment instructions to fund managers electronically over a secure financial messaging network.

 

Xafinity Paymaster’s process aims to ensure administrators can offer a more efficient service to clients and drastically reduce the risks associated with manual processing. Xafinity has implemented the market practice in full including the issue and confirmation of investment instructions, pricing reports and holding statements.

 

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An independent web site provided by the ViaNova working group to encourage the adoption of a standard approach to electronic order processing in the UK corporate pensions industry.