West LB Mellon Asset Management entscheidet sich für SunGard Asset Arena

Da ist er also, der erste GP3-Kunde in Deutschland (über den man auch berichten darf). Den hat sich Sungard sich auch hart verdient, schließlich gab es lange einen anderen Favoriten für den Abschluß.

Eingesetzt wird auch das Modul Post-Trade-Compliance, und das an den Standarten Düsseldorf und London der WestLB Mellon Asset Management.

Trends und Topthemen der Bankbranche 2008

Diese vom BankingClub gestartete Umfrage zeigt vor allem eins: dass die deutschen Banken fest daran glauben, dass in diesem Jahr zumindest der Arbeitsmarkt sich noch nicht entspannen wird. Wenn die Entwicklung an den Finanzmärkten so weiter geht (selbst wenn die Eskalation der letzten beiden Tage außer Acht gelassen wird), dann sollte sich das aber eigentlich schneller auf den Arbeitsmarkt auswirken. Wenn das nicht so sein sollte, dann liegt es m.E. hauptsächlich daran, dass auf derartige Entwicklungen (leider?) erst in der jeweils nächsten Jahresplanung eingegangen wird.

Nicht überraschend dagegen sind die Einschätzungen für IT-Projekte - hier gibt der Gesetzgeber (zur Freude der Berater und IT-Unternehmen) immer wieder neue Aufgaben auf. Gestern war MiFID, heute ist die Abgeltungssteuer...

Standard Chartered Bank chooses IGEFI MultiFonds ?

According to the latest rumors, Standard Chartered Bank has chosen IGEFI "MultiFonds Fund Accounting" as their new fund accounting solution. This decision seems to be valid for all subsidiaries around the world.

If this will be confirmed, it would prove that IGEFI's strategy of making deals preferably with global players.

The Challenge of OTC Derivatives for (Luxembourg) Fund Service Providers

Derivatives are increasingly used to improve the performance in the fund industry. With the convergence of traditional and alternative investments, this trend is getting even stronger. Additionally, the local Luxembourg new SIF legislation (heavy PDF article in HedgeWeek) is further opening the door for more derivatives investment.

Aside from listed derivatives (options / futures), the ability to deliver services around OTC derivatives have emerged as a differentiating factor for Fund Service Providers always eager to attract new clients or more funds from their clients.

A growing part of the Fund Service Providers offer a range of services around OTC derivatives in Luxembourg, from handling custody and fund accounting to collateral management or independent valuation. There is room for more, despite a few hurdles to overcome.

Those hurdles are familiar challenges for the Luxembourg Funds Industry: People and Systems. Finding the profiles with, at the same time, OTC derivatives skills and in-depth knowledge of the Fund industry is even more challenging due to the product complexity which has nothing common with traditional instruments. They require systems able to capture trades, handle reconciliations, allow reporting per strategy or specific functionalities such as pricing.

From a technology point of view, the emergence of FpML as a standard for OTC derivatives should improve STP handling among Fund Administrations. Coming for the Asset Management Industry, those new systems and standards will have a significant impact on the existing IT infrastructures of Fund Service Providers. A new gap to bridge between the Fund Administrators and Asset Managers capabilities…

The growth of OTC derivatives has also driven the development of emerging services such as risk monitoring and advanced support to build structured product or trade execution services.

Luxembourg fund service providers shall keep a close eye on this market which from now on.

Yoann Jagoury, CapFields

Mitsubishi UFJ Asset Management selects SimCorp Dimension

Another sales success for SimCorp: Mitsubishi UFJ Asset Management has chosen SimCorp Dimension for its middle and back-office tasks.

If you look at their home page the job offers directly reflect the closed deals they have made lately in Germany and the UK...

Universal schnappt sich von SEB Großauftrag für Fondsadministration

Nun ist es raus und öffentlich bestätigt: Die SEB Asset Management lagert die Administration seiner Wertpapierfonds an die Universal-Investment aus.

Die erwähnten Skaleneffekte erhofft die Universal auch über die Flexibilität der IT-Lösung zu erreichen - die Fondsbuchhaltung-Software Xentis von ProfiData.

Das soll nicht der letzte Coup der Universal gewesen sein. Übrigens, ein Kollege von mir hat dabei in einer zentralen Rolle unterstützt dürfen...

HELABA chooses Simcorp Dimension

Now this is interesting: the mother of Helaba Invest, which is running ProfiData, chooses Simcorp Dimension for post-trade processing, custody operations and depository banking.

HELABA is the first "Landesbank" that chooses Simcorp Dimension. It would be interesting to see if others will follow this decision - rumors say that LRP is one step shy of a decision...

IT Spending in Financial Services: A Global Perspective Report Published by Celent

As BobsGuide, BankTech and Waters (amongst many others) report: Celent has released its survey on what financial institutions will spend for their IT.

The report does cover Northern America, Europe and Asia, but sources prediminantly cite the US only.