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Two pillars of our business culture are to put our clients first and delivering continuous improvements to our service offerings. We’re proud to have partnered with Silica to bring efficiencies to manage funds and lower costs to investors.

Sixteen years ago, IRESS spearheaded electronic order routing for exchange-traded securities in the South African market. We are pleased to announce that we are bringing the same level of automation to the unitised sector with the launch of the Silica IRESS Funds Trading solution.

Powered by IRESS, Silica, an administration and technology solutions provider, enables users across the IRESS product suite to electronically access and trade unitised funds from major South African asset and investment managers. The technology makes the trading of funds as fast, efficient and transparent as trading exchange-listed securities.

The Silica IRESS Funds Trading Solution creates an open market where investment managers can seamlessly make their funds available to advisers and investors. Our aim with this new solution is to take the pain and paperwork out of investing and to reduce admin costs for all players in the value chain—advisors, asset managers and end-clients alike.

The partnership enables advisers and investors to transact electronically with investment managers and their funds without the need for human intervention. Financial advisers and brokers can directly interact with, interrogate and report on data from investment managers’ systems. Cash movements can be facilitated through EFT or direct debits.


How it works

As a member of the IRESS community, our clients can access the Silica platform for Funds Trading by means of the IRESS SmartHub – a global network connecting buy and sell sides, trading destinations, vendors and administrators using IRESS APIs or the standard global FIX protocol. The IRESS SmartHub integrates with Silica’s Graphite interface, a Microsoft cloud-deployed solution that leverages Silica’s transactional order management utility to automate transactions and cash movements, benefiting both advisors and asset managers alike, while benefit from lower fees and a more streamlined customer experience with less paperwork to be completed.


Benefits for advisors:

  • The solution automates every transaction: FICA document verification, new investments, and additions, fund switching, payments, fees, client data and more.

  • It also enables advisers to offer their clients the broadest range of funds from leading investment managers at the lowest possible cost.

  • Advisors have a single view of each client’s portfolio in real time, as well as the ability to execute orders instantly without delays.

  • The solution reduces errors through electronic processing and minimises administration through effortless electronic account opening.


Benefits for asset managers:

  • Automation of every transaction
  • Lower administration costs and improved margins.
  • The ability to access new distribution channels.
  • Reduction of human error.


What do early adopters say about the Silica IRESS Funds Trading Solution?

It’s rewarding when clients experience the improvements and efficiencies that we strive to make. Early adopters of the Silica IRESS Funds Trading Solution, Kruger International, are reaping the benefits of the technology:

“This solution is already helping us to achieve significant efficiencies and reduce human errors in processing transactions. We now have real-time access to accurate data about our clients’ portfolios, as well as the ability to scale up our business to serve more clients more efficiently. This translates into a better client experience and enables us to focus on adding value rather than processing paperwork.” – Chris Nel, analyst at Kruger International.

We’re excited to see the response from other industry leaders, but we think that 2019 will be a promising year ahead for the Silica IRESS Funds Trading Solution.


More insight & research

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