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AFSF

Establishment of the AFSF

  • Discussion of Back office Fund Processing Standardization

    In spite of all the efforts to integrate the fund market, Asia’s fund market infrastructure is fragmented across economies, and unlike Europe, there is no common fund platform in Asia. Furthermore, in comparison to the European market, back-office processes for fund transactions in Asia rely heavily on manual processing with low levels of automation and standardization.

    • Platform: Fragmented
      Platform: Fragmented map

      This diagram shows that in spite of all the efforts to integrate the fund market, Asia’s fund market infrastructure is fragmented across economies

      • CDSC : Central Data Exchange System
      • KSD : FundNet
      • JASDEC : Book Entry Transfer System
      • HKMA : CMU Fund Platform
      • TDCC : Fund Clear
    • Lowest Automation and Standardization

      Lowest Automatic and StandardizationThis diagram shows that in comparison to the other region back-office processes for fund transactions in Asia rely heavily on manual processing with lowest levels of automation and standardization.

      * source : EFAMA-SWIFT(2010)

  • Creation of Asia Fund Standardization Forum(AFSF)

    On October 18, 2014, Mr. Jaehoon Yoo, Chairman & CEO of Korea Securities Depository (KSD), proposed forming the Asia Fund Standardization Forum(AFSF) to discuss back-office standardization in the Asian fund industry at the 18th ACG General Meeting in Xi’an, China.

    Asian CSDs recognized the potential necessity of collaborative roles and efforts to establish back-office standards in the early stage of Asian fund market integration, and agreed to form AFSF.