When the regulator demanded that all UK Platforms must provide efficient re-registration services (in-specie transfers) to their customers, CBoxx embarked on an ambitious cross-industry journey with Origo to address this need by adding automated investment re-registration services to their already highly successful Options pensions cash transfer service.
We worked with Origo on all project aspects from inception, through business case (in conjunction with OCP, another close CBoxx partner), requirements analysis, architecture design and implementation through to live launch and beyond, our partnership with Origo remains as strong as ever. Options is now used by over 60 leading financial brands.
The re-registration journey took CBoxx into territories that included the procurement, implementation and full integration into Options of ISO 20022 standard XML messaging over the SWIFT global messaging service for Funds. This entailed full and active participation in the industry working parties of the UK Funds Market Practice Group (UKFMPG) and TISA, an activity that also culminated in the foundation of the TeX Service that facilitates, for nearly 100 global and national firms, the electronic transfer of wrappers and assets between fund managers, platforms, wealth managers and any firm which holds assets on behalf of investors.