Order Processing

Our most fundamental service is the processing of fund transactions between dealers, intermediaries and manufacturers.

There are three steps: placement, acknowledgement, and confirmation and settlement.

Order placement:

  • Distributors and intermediaries send transactions to Fundserv using one of three methods:
    • Interactively – Real time one-to-one
    • Batch order file – Grouped together, sent all at once
    • Web screens – for low-volume business or as a back-up connection
    • Orders are time-stamped and passed through high-level business and technical edits by our Transaction Forwarding System (TFS)
    • TFS calculates trade and settlement dates based on the fund characteristics predetermined by the manufacturer.

Acknowledgement:

  • Acknowledge the orders
  • Return individual transactions for correction
  • Manufacturers process acknowledged orders overnight, assigning settlement details and Fund Account IDs in the case of new accounts.
  • Speed guaranteed: The time between order placement and manufacturer acknowledgement is usually just seconds.

Confirmation & Settlement:
We make transactions, acknowledgements and contract details available on our web services screens for three months to facilitate administration and reconciliation. Settlement and commission values are electronically exchanged for everyone’s convenience.

  • Purchase to existing or new account
  • Redemption
  • Switch
  • External transfer
  • Internal transfer to existing or new account
  • Fee
  • Commission rebate purchase to existing or new account
  • LSIF rollover
  • Segregated fund reset
  • In-cash transfer
  • Segregated fund maturity redemption
  • Trade cancellations
  • Trade corrections