Over 20 platforms and fund groups sign up for re-registration

Yes, but are all the platforms able to accept the different share classes of the same investments?

I know this sounds like a daft question everyone, but who are the 24 that have already signed up and who are the next 22 to follow?

@ Student Banking -Good question, I bet it won't be a platform which is owned or sells its own funds!

The firms who have already joined can be seen by clicking the link to List of Members found on the left hand side of the page: http://www.tisaexchange.co.uk/about_tex.html

This list will be updated regularly as joining forms are received.

Defaqto also now publish details on which platforms are TISA compliant, which will be visible in Engage shortly

I am responding as both a director of Cofunds and Chair of TeX. One needs to bear in mind that the role of TeX is to simplify the requirements of all parties to have indemnities and clear service levels in the improved, electronic transfer process. The process has been agreed by industry standards (ISO20022). TeX enables fund managers and platforms to sign one contract and perform to one SLA; the alternative is to negotiate with every counterparty. As such, the ability of fund managers and platforms to deliver re-registration is the responsibility of those firms. Cofunds will be ready to support ISO20022 re-registration, will are members of TeX and are encouraging fund managers to join.

I do not think that there will be a problem for Platforms to cope with different share classes. The advised client’s re-registration will be an advised activity, so trail will be switched off and this is treated in different ways by different platforms. In many cases it will be necessary for fund managers to perform unit conversions before and/or after a re-registration and this may be a challenge for some fund managers. Such wrinkles will be ironed out during 2013.

Still takes an absolute age for fund managers to comply even if individual platforms accept re-registrations. Needs to be an more automated process and not the paper trail we currently have.

KB, that's the objective of tex, rereg should complete within a few days I think once this is live, assuming both platforms and the fund manager in question are signed up.

I am responding as both a director of Cofunds and Chair of TeX. One needs to bear in mind that the role of TeX is to simplify the requirements of all parties to have indemnities and clear service levels in the improved, electronic transfer process. The process has been agreed by industry standards (ISO20022). TeX enables fund managers and platforms to sign one contract and perform to one SLA; the alternative is to negotiate with every counterparty. As such, the ability of fund managers and platforms to deliver re-registration is the responsibility of those firms. Cofunds will be ready to support ISO20022 re-registration, will are members of TeX and are encouraging fund managers to join.

I do not think that there will be a problem for Platforms to cope with different share classes. The advised client’s re-registration will be an advised activity, so trail will be switched off and this is treated in different ways by different platforms. In many cases it will be necessary for fund managers to perform unit conversions before and/or after a re-registration and this may be a challenge for some fund managers. Such wrinkles will be ironed out during 2013.