SOUTH AFRICAN-BORN FinSwitch is in talks with the Australian unit trust industry, with a view to licensing FinSwitch's electronic unit trust trading technology in Australia.
Now celebrating its 10th birthday, FinSwitch facilitates the daily delivery of prices, total expense ratios and income distributions for the entire South African unit trust industry, on a straight-through electronic processing basis.
The FinSwitch platform is used by 81.5% of all management companies and linked investment service providers in South Africa. A total of 9 million transactions have been switched (traded) since the inception of FinSwitch in 1999, and since then, volumes have increased at an average annual compound rate of 62%. In September this year alone, 168 000 transactions were switched, with a total value of R11 billion.
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