eCompany`s financial services platform, EDM Solutions, has agreed to work with UK company EMX Co to produce a global standard for trading investment products over the Internet.
EDM Solutions has developed an electronic infrastructure that connects consumers in South Africa to suppliers of investment products through the Internet, including unit trusts, wrap funds and unitised life assurance funds. EMX, a subsidiary of AUTIF the UK`s investment fund managers trade association, already runs a similar system in the UK.
Brian May, of EDM Solutions, said: "EDM offers both consumers and financial advisors significantly improved levels of customer service as a result of enhanced information at point of sale. Customers and financial advisors have increased accessibility to all investment products, as well as information about those products, in an electronic investment supermarket."
The international standard will allow retail investors to trade in investment trusts from across the globe over the Internet and at a lower cost.
The net result is that messages that can be used globally and hubs such as EMX`s that can talk to EDM`s Universe amongst others. The benefits of this are that it will facilitate global trading in investment funds and lower the cost of entry for all.
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