EMX outage - 19 July 2024

14:30

EUI has confirmed that EMX is now operational, and we have processed deals outstanding in the EMX system.

If you sent deals by EMX, they would have been processed based on the time SS&C received them. If this was after 'today's cut-off or Valuation Point', they will be placed for the next cut-off\Valuation Point.

If you submitted a deal via EMX and also submitted the same trade via another method to ensure processing, you need to reconcile your position and submit any cancellation requests by fax BEFORE the cut-off\Valustion Point that your EMX trade will be pointing to.

09:30

Update on the EMX issue from this morning:
EUI has consistently communicated that they cannot guarantee that the issue will be resolved by a particular time and that users of EMX should invoke an alternative method of dealing.

As a result, we have decided to remove 'Intent to Deal,' meaning that trades submitted to EMX today will get value based on the time SS&C Fund Groups receive them. In other words, they will point to the next available VP and will not be given value based on when they were submitted.  

We continue to work with EUI on this issue but do not propose to do regular updates on this at this stage as they are actively communicating the EMX recovery.

08:20

We are aware of an issue Euroclear  UK & International (EUI) reported this morning regarding EMX connectivity, affecting all connection types. 

SS&C is impacted by this, as EUI are unable to forward us any orders. We believe this will also impact your ability to submit new orders into EMX. We ask that you hold orders where possible and submit them to EMX once it becomes available. However, if this does not happen within good time before a VP or Fund Cut-Off, please revert to other methods such as CTN or Fax.

Please remember that orders in the EMX system, with the exception of Vanguard, will be processed by SS&C based on the time they are received into the EMX system.