Fully automated trading of mutual funds
April 24, 2014. admin.
A few weeks ago Bricknode signed a strategic deal with MFEX Mutual Funds Exchange as a customer and partner for offering automated mutual fund trading. Yesterday Bricknode launched its last release into a production environment and we are now looking forward to our next release which will include the first module involving MFEX.
Trading of mutual funds still poses a big problem within the technical aspects of securities processing since the back office process can be demanding together with various types of corporate actions.
By combining the mutual fund exchange developed by MFEX and the back office and customer facing capabilities of Bricknode Financial Systems (“BFS”) this partnership will be able to offer truly automated trading of mutual funds.
The most frequent question we hear from new customers of Bricknode is how the platform manages the fact that money is sent to the fund company before the actual execution report is received. The simple answer is that BFS works with account reservations on the end customer interface while tracking un-settled funds sent to the fund companies pending execution.
Stay tuned for release number 4 of 2014!
More Bricknode Blog posts
How to get started with Bricknode for stock brokerage in 1 hour - March 16, 2021
Revisiting the metaphor of the operating system for finance - February 27, 2021
Currency exchange in relationship to trading in different instruments - February 24, 2021
Complete financial management of financial advisors - February 23, 2021
The great new feature called KycDate - February 16, 2020
Customize Bricknode Financial Systems and make it your own - December 5, 2019
The future of IT at financial institutions - March 13, 2019
What is a bond and how does it work? - October 21, 2018