SPP Fonder, the Swedish fund provider that is one of Norwegian financial group Storebrand’s asset management brands, has selected Euroclear Sweden to automate its orderflow, facilitating fully automatic funds business on behalf of its distributors.
The change is intended to “improve” and “make easier” trading in funds as well as further develop SPP’s existing digital platform. Automisation means more effective trading as well as an easier way to communicate with customers, said Henrik Dubois, CFO/COO SPP Fonder. It will also reduce the amount of manual intervention at the administrative level.
Euroclear Sweden’s solution will increase automated handing of fund orders, reducing costs and operations risks of manual fund administration. It should improve transparency and follow through on regulatory changes, which is increasingly sought by fund distributors, Euroclear Sweden added.
Anders Löfgren, chief business development officer at Euroclear Sweden, said: “We are very pleased to be working with SPP Fonder. They are contributing to jointly working with different parties in the market, which is in line with our view of how increased cooperation can create a more effective funds market.”