In other FinTech news, a Filipino firm deploys SS&C’s Portia, and RIMES and Forrester take on managed data services.
Ipreo Pulls Together an Industry-Led Effort
Ipreo, a market intelligence and workflow solutions vendor, is embracing the FIX Protocol to help end-users optimize and streamline fixed income deal workflow.
The results of Ipreo’s efforts is the industry-led initiative, the Ipreo Investor Access platform, which has the capability to electronically submit fixed income orders directly to the sell-side syndicate of banks.
The vendor has been working with members of the FIX Trading Community, “and the broader market, for the past two years to implement the best practices identified to place orders and receive allocations in equity new issues,” say Ipreo officials. “Building on the work started by the FIX Trading Community’s IPO Subgroup, Ipreo has extended these industry best practices to make FIX messaging available on fixed-income new issues as well.”
The Investor Access platform alerts investors to new-issue announcements, information on deal terms and conditions, the submission and management of orders, and electronic notification of allocation and pricing details, officials say. End-users can add other deal-related information such as the prospectus and final terms. The Ipreo support for fixed-income deal flow will not impact the FIX Protocol, officials add.
The Investor Access initiative is the result of collaboration among 11 sponsoring banks and 100 buy-side participants. The original sponsoring banks include BNP Paribas, Crédit Agricole CIB, Commerzbank, Goldman Sachs, HSBC, ING, MUFG, NatWest Markets, Santander, Societe Generale, and UBS.
Filipino Firm Uses SS&C’s Portia
ATR Asset Management (ATRAM), an asset manager in the Philippines, has gone live with the Portia investment management platform from SS&C Technologies to support the firm’s growth in the Filipino market, officials say.
The Portia deployment will support the operations of ATRAM and its recently launched ATRAM Trust Corporation on a single platform providing fund accounting and improved client reporting, officials say. The Portia system will also “play a critical role helping ATRAM prepare for future business opportunities,” officials say.
The Portia software supports a range of asset types and provides multi-currency functions. Portia also offers dashboards for manageability over activities from the front to back office, officials say. “The platform can be configured to assist with compliance across all industry standards and is designed to meet the needs of complex, high-volume global asset managers,” officials say. The integrated accounting ledger is both powerful and configurable, and will allow ATRAM to have multiple bases set up in one chart of accounts.
RIMES and Forrester Create Analyzer for Managed Data Service
RIMES, a provider of managed data services for the buy side, has launched the Total Economic Impact (TEI) Estimator, which was developed in conjunction with research and advisory firm Forrester, officials say.
The new the tool “allows asset managers to understand the costs and benefits of RIMES Managed Data Services versus in-house data management,” according to the vendor. “This is the first time that buy-side participants can receive a customized estimate of the potential data management cost savings.”
The TEI Estimator measures four fundamental business elements: cost and cost reduction, benefits to the entire organization, risk and flexibility. Clients enter in their range of assets under management and answer several questions about the firm’s growth profile and current data management costs, officials say. The information is used by the TEI Estimator to calculate the potential benefits.
“The model uses information from research and analysis, conducted independently by Forrester, into the benefits and costs of RIMES Managed Data Services including in-depth interviews with a number of existing RIMES clients,” officials say. “The same economic impact valuation techniques have been used by Forrester to measure benefits and costs for dozens of leading global multi-national firms, including Cisco, Dell, Google, Microsoft and SalesForce.”
Forrester officials say that the key benefits of RIMES MDS are:
- IT resource cost reallocation/savings with improved data feed and data delivery maintenance;
- Improved ability to scale, leading to cost reallocation/avoidance of additional headcount;
- Faster time-to-market, resulting in improved front-office productivity;
- And reduction in third-party legacy vendor fees.
“Determining the full, ongoing costs of data management can be a very difficult task for asset managers. Forrester created this Estimator for us to make it simple to show the value of a data management solution, arming them with a way to estimate the value of our product for their business using a third-party model,” says Steve Cheng, global head of data management solutions at RIMES, in a statement.
The high-level TEI estimator is available to use at the Forrester Resource Center on www.rimes.com/forrester , officials say. A full model is available via email info@rimes.com
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