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FinSwitch (Pty) Ltd Reg. No:


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FinSwitch is a transaction switch linking participants in the Investment Industry. FinSwitch is a transaction switch, linking the Product Providers and Collective Investment Scheme Managers (ManCos). FinSwitch provides a mechanism for the transaction flow between their trading environments. The platform provides for all transaction types, price information, income distributions and distribution of fund certificates and underlying holdings.

Our PROMISE is to Deliver Certainty in Data Transfer between participants / members of the Collective Investment Industry.

Our VISION is to be the central switch for all Collective Investment Industry related data.

Our MISSION at FinSwitch is to make moving data between parties in the South African Collective Investment Industry faster, safer and cheaper.

We achieve this by providing a common automated platform to process transactions, fund prices and other data between members of the industry. By using a common set of message formats across the industry, processes can be automated thus reducing or even eliminating manual intervention. This results in decreased errors, increased productivity and an overall reduction in costs. A Win-Win for everyone.

Our main clients are Unit Trust Management Companies (ManCos) and Bulked Investors such as Linked Investment Service Providers (LISPs), but also include Asset Management, Employee Benefits, Life and Third Party Administration companies.

FinSwitch Objective

To reduce operational risk and increase efficiency in the Collective Investment Schemes Industry by creating a common automated platform for the delivery of common market related data and the processing of transactions between participants.

FinSwitch Overview

FinSwitch was set up specifically to drive the design, development, implementation and administration of an electronic trading bureau for the trading of unit trust funds in South Africa. The company was launched in February 2000 and targeted the relationship between the Collective Investment Scheme Managers (ManCos) and the Bulked Investors and/or Linked Investment Service Providers.

FinSwitch Process

Product Providers / Bulked Investors upload unit trust transactions to the FinSwitch system by a 14h00 cut-off on a business cycle date. These transactions are consolidated into a single file per ManCo. Transactions are available to download as soon as they have been authorised, but ManCos are advised to download a single consolidated file after the 14h00 cut-off, at around 14h20, to allow for processing time. A ManCo's back-office system will then process these transactions and generate a daily Confirmation file which is uploaded to the FinSwitch system by 10h00 the next day. Bulked Investors can download these Confirmations to facilitate daily unit reconciliations.

For each file that is uploaded FinSwitch has strict validation and business rules which forces a standard file format to be adhered to.

Principle Benefits

- Single point of contact
- Industry source for prices, income distributions (incl DWT), Asset Allocations and TERs
- Reduced transactional risks
- More efficient and productive administration
- Industry standardization of data formats
- Fixed cut-off for Transaction processing
- Reliable, secure and easy to use