Funds Europe looks at some recent developments in fund management technology, which have again included a focus on MiFID II, and also the data deluge and the failings of legacy technology.
State Street tackles information overload
State Street Global Exchange has created Quantextual Idea Lab for clients to use machine learning and algorithms to consume complex research reports and manage their spending.
Investment professionals are inundated with research reports from the sell side, the buy side and academia, says State Street, whose Quantextual tool will help readers tag reports by investment themes and assets, as well as suggest relevant materials based partly on observed reading behavior.
Enhanced search capabilities include an “intuitive question-and-answer function capable of instantaneously responding to investment-related questions”.
Linedata/DTCC build out post-trade service
Linedata has upgraded the interface between its order management system Linedata Longview, and the DTCC’s platform for central matching of cross-border transactions.
The upgrade offers a better way for asset managers to monitor post-trade workflow and any exceptions, the firm said.
Linedata said it had also extended asset class coverage while DTCC said its system includes commission-reporting features to meet MiFID II obligations.
Cordium offers answer to MiFID II paperwork challenge
Cordium, a risk and compliance service provider, has launched the MIFID II Infrastructure Collateral Service to provide compliance teams with policies, procedures, manuals and related documentation required for adherence to MiFID II.
This will help asset managers update their compliance documentation with greater ease, Cordium said, by eliminating the need for firms to to create complete sets of required documentation in-house.
All essential MiFID II areas are addressed in detail including trade reporting, transaction reporting, best execution and dealing commissions, the firm said.
SimCorp gains as firms cast off reporting systems
SimCorp said it had won five clients over 18 months who had transferred from legacy technology to its Coric client-reporting tool.
These included Holland’s Kempen Partners, which wanted to increase automation and report governance with the system.
SimCorp said the impact of regulation, coupled with client demands, were causing more asset and wealth managers to review their client reporting and many were finding they had to replace legacy systems.
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