In other news about FinTech duets, Misys teams up with Broadridge while Axioma and FactSet take their act to Europe.
Electra and Linedata to Create Recs Interface
Investment management software vendor Linedata and reconciliation services provider Electra Information Systems have announced that they are creating an interface between two key platforms.
The new link will provide Linedata Mfact fund accounting users with support for Electra’s Reconciliation, offering capabilities for reconciling system-to-system, net asset value (NAV), P&L, collateral, n-way, intraday, security master and pricing operations, officials say.
Overall, the integration of Electra’s Reconciliation with Linedata’s Mfact global fund accounting solution will “drive operational and cost efficiencies while reducing risk through increased levels of control and transparency,” said Thierry Soret, Linedata’s global head of fund services, in a prepared statement.
The interface and agreement with Electra will also allow Linedata to offer integration between the Linedata Admin Edge platform and Electra’s offering. The Edge platform offers fund administration based on Linedata Mfact and Mshare and fund accounting, investor administration, income allocations and web reporting applications, officials say.
Misys Works with Broadridge on MiFID II Hub
Misys has released a regulatory reporting offering, FusionCapital Regulatory Reporting, that is intended to act as a regulatory hub to reduce operational risk while helping banks comply with the Markets in Financial Instruments Directive (MiFID II) in time for the January 3, 2018 deadline, officials say.
The Misys FusionCapital Regulatory Reporting offering automates the reporting process to reduce the cost and effort associated with data capture and compliance, officials say. The offering also supports the European Market Infrastructure Regulation (EMIR) Review requirements for over-the-counter (OTC) derivatives, as banks prepare to report by November 2017.
The system was built in conjunction with Broadridge Financial Solutions’ Message Automation, officials say.
The FusionCapital Regulatory Reporting offering covers a wide scope of financial instruments including derivatives, bonds and money markets.
It also offers direct connectivity with the Approved Reporting Mechanism (ARM) and Approved Publication Arrangements (APA) that support transaction and transparency reporting in real-time and are part of the Markets in Financial Instruments Regulation (MiFIR) market transparency requirements, officials say.
“Users of FusionCapital Regulatory Reporting can view the compliance status of transactions received from regulatory services in real-time and monitor exceptions through a flexible dashboard which supports correction and automatic resubmission of data to reporting mechanisms,” Misys officials say.
The new offering is available in the cloud as part of the Misys Platform as a Service (PaaS) or as an on-premise installation, officials say. The new system can also aggregate data from Misys FusionCapital core systems and accept data from other trading and order and execution platforms.
In addition, the FusionCapital Regulatory Reporting architecture is scalable to accommodate new regimes such as the Securities Financing Transactions Regulation (SFTR) and Analytical Credit and Credit Risk Dataset (AnaCredit). It is part of the Misys FusionCapital portfolio, officials add.
Axioma Teams with FactSet to Serve Mirova & Natixis Asset Management
Axioma, an enterprise market risk and portfolio management solutions vendor, and FactSet, a provider of integrated financial information and analytical applications, have entered into an agreement to serve Mirova, described as “the second-largest European manager of open-ended SRI [socially responsible investment] funds,” and Natixis Asset Management, a European asset manager.
The two asset managers are Natixis Global Asset Management affiliates, which has more than $877.1 billion under management, officials say.
In a joint statement, Emmanuel Bourdeix, co-CIO at Natixis Asset Management and Hervé Guez, head of responsible research at Mirova, say that the combination of Axioma’s risk solutions and FactSet’s information and ratings “significantly streamlines the integration of our risk management, performance and analytics tools across a variety of equity strategies. In addition, it reduces costs and further enhances our focus on generating long-term returns for our clients.”
Axioma’s risk solutions will be implemented to bolster Mirova’s “SRI equity expertise” and Natixis Asset Management’s smart beta, European equities and emerging market equities portfolios, representing over than €40 billion in assets under management, officials say.
“As asset managers look to replace their legacy risk systems, they are increasingly focused on fully customizable solutions, which integrate with various analytics and performance solutions,” says Nicolas Rossignol, managing director for Axioma in Southern Europe, in a statement.
Axioma and FactSet have been collaborating in the U.S. since 2010, and have since expanded their partnership to Europe, officials say.