What is TeX?

TeX (TISA Exchange Limited) is a not-for-profit member-based organisation established to facilitate the electronic transfer of wrappers and assets between wealth managers, platforms, fund managers and others on behalf of their customers. It currently has over 400 UK individual registrations from 150+ unique corporate members.

What We Do

TeX manages and supports the agreed set of non-commercial contracts between members that cover standards, service level agreements and matters of liability for all aspects of transfers of ISAs, GIAs and Pensions.

The provision of these widely agreed and standard contract terms provides certainty for customers and firms – that the process is being completed to an agreed industry standard, consistently between TeX members. It reduces cost, risk and duplication for the industry. It removes the need for each platform, service provider, ISA manager, administrator or fund manager to have individually agreed contract terms covering transfers. There is just one common set of legal agreements and documents terms that are maintained by TeX – and each member has agreed to them.

Every member knows what the terms are and the standards set out in the Service Level Agreement. This provides clarity and consistency for members and for all parties involved in carrying out transfers through TeX.

TeX Governance

TeX is overseen by a Board of Directors representing the relevant parts of the financial services industry. Senior leaders from service providers, asset managers and pension providers ensure that they bring their expertise for the benefit of all members. They are supported by three Councils / Working Groups focusing on legal aspects, service and operations, and solution development partners.

TeX also has an Operations Manager, Nigel Jacques-Pettinger (nigel.jacques-pettinger@tisa.uk.com), who works closely with members to resolve issues and find ways to improve the reliability, accuracy and timeliness of transfers.

TeX Membership Fees

TeX is industry funded and operates on a not-for-profit basis. As such, the membership fee is kept as low as possible. TeX is also delivering savings to members by driving down industry costs through the adoption of one common set of terms maintained by TeX, which in turn, is leading to better consumer outcomes.

Need more information?

Please check out the explanatory document below or go to the contact us page and get in touch directly.

An Introduction to TISA Exchange