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Peter Piscia

Infostore enables seamless migration to StatPro Revolution for European regulatory risk services bureau

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5 December 2019

Infostore enables seamless migration to StatPro Revolution for European regulatory risk services bureau

StatPro Group’s acquisition of the European regulatory risk services bureau, ODDO-BHF, has been seamlessly migrated from a legacy risk management solution to StatPro’s cloud-based platform, Revolution, using the data warehouse and ETL product Infostore, part of StatPro’s Infovest Division.

The risk services bureau was acquired by StatPro Group in July 2018, enhancing StatPro’s offering to include a managed regulatory risk service and adding new clients to StatPro’s client base in Germany and Luxembourg.

The project to migrate StatPro’s new managed service to StatPro Revolution began shortly after the acquisition, using Infostore – a flexible and robust data repository – and Infoflow – a workflow and ETL tool that enables data integration in and out of Infostore.

Jenny Donaldson, Director at Infovest, reports that the integration process was seamless and headache-free for the managed service and its clients. “Clients did not have to re-engineer their data flows, as we built a data integration layer enabling each client to migrate from the legacy risk management application to Revolution without any effort.  What could have proven to be a key challenge was overcome by Infostore’s robust data integration features.”

“We used their existing source data and built a multi-client data integration solution whereby Infostore generated the data format and content as required by Revolution,” Donaldson says. “As the clients were already providing data in a predefined format and structure, Infostore’s robust and flexible integration layers shielded clients from any impact during testing and migration.”

The migration has given the managed services bureau a single view of all client data, and automated numerous manual processes – therefore enhancing efficiencies.

 

Enquiries

StatPro Group plc
Michelle Earp, Global Head of Marketing +44 (0) 20 8410 8728

 

About StatPro

StatPro Group (www.statpro.com), part of Confluence (https://confluence.com),  provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers. The Group has 10 offices in Europe, North America, South Africa and Australia, servicing 450+ clients in 37 countries. It is organized into three divisions: Revolution, Source: StatPro and Infovest.

Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.

Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division’s integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.

Infovest supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools, as well as portfolio management solutions.

Infovest poised for European growth on back of successful implementation for Italian enterprise 

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21 November 2019

Infovest poised for European growth on back of successful implementation for Italian enterprise 

An Infovest StatPro implementation is giving an Italian securities services and bank payment services firm a competitive edge, and driving European interest in StatPro’s SPC solution

Infovest Consulting, part of the StatPro Group of Companies and a leading provider of investment data management, compliance, regulatory and client reporting solutions, is poised for further European growth following a successful implementation at a European market leader in securities services and bank payment services.

The organisation, which was already using StatPro Revolution, has implemented StatPro SPC to automate compliance checks for faster checks and enhanced compliance. This is in line with its focus on digitisation and innovation. The StatPro SPC solution allows the institution to run compliance checks faster and more accurately, reducing risk for both the institution and its clients. This gives it a competitive edge over banks still running manual checks.

Jason Prudhomme, SPC Compliance Consultant at StatPro, says manual checks could take several days per month, versus only a few hours using an automated solution. “In this environment, rules, data and the regulatory environment are all becoming more complex. There is no margin for human error, plus, delays in compliance checks could lead to additional risk,” he says. “Speed is crucial, as asset managers trade daily and if the market should move adversely against them and they unwittingly trade out of that breach, it could prove very costly.”

The customer selected the solution after a proof of concept run in 2018. “They wanted full fund transparency. They supplied us with their data, we ran it through the system and sent the results to them, and they were very happy with the system’s performance,” says Prudhomme.

This transparency is a core function of SPC, which offers the ability to monitor investment guidelines prescribed from any source to better achieve compliance across complex investment strategies, increased regulatory scrutiny and stringent investment guidelines.   

This is Infovest’s first client in Italy, but the company expects to see further growth in Europe following this successful implementation. 

“We now have clients in seven European countries, but we are seeing a growth in prospects thanks to this implementation,” says Prudhomme. “The European market could be very fruitful for us as the market looks for improved compliance and risk management in a competitive environment.”

 

Enquiries

StatPro Group plc
Michelle Earp, Global Head of Marketing +44 (0) 20 8410 8728

 

About StatPro

StatPro Group (www.statpro.com), part of Confluence (https://confluence.com),  provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers. The Group has 10 offices in Europe, North America, South Africa and Australia, servicing 450+ clients in 37 countries. It is organized into three divisions: Revolution, Source: StatPro and Infovest.

Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.

Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division’s integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.

Infovest supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools, as well as portfolio management solutions.

Evolve or die: Entering the next era of compliance

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Manual approaches insufficient for Transparency Directive compliance

Vuyelwa Gongxeka – Business Analyst

Research has found that far too many companies still conduct compliance monitoring manually, which naturally increases the risk of errors and reduces efficiencies. This situation is further exacerbated by the need to comply with a wide range of global financial regulations across different regions; such as Europe’s Transparency Directive and Undertakings for Collective Investments in Transferable Securities (UCITS), Canada’s National Instrument 81-102 — Investment Funds and the US Investment Company Act of 1940 to highlight a few.

By its very nature, compliance legislation is complicated to interpret, more so when a myriad of legislative rules must be complied with and monitored manually, across multiple spreadsheets and embedded macros.  Manual compliance monitoring is not only time consuming and at risk of error, but also lacks sufficient audit trails and – crucially – may not provide sufficient warning of the potential for breaches.

Technology has fundamentally changed how business is conducted; and with stricter global compliance restrictions, it has become an essential tool for ensuring post trade compliance.

By way of example, the Transparency Directive (TD), issued in 2004 and revised in 2013 aims to ensure transparency of information for investors through regular disclosures and the on-going dissemination of information to the public. Central to this directive is the shareholders to notify major holdings of voting rights to competent authorities and issuers.

A shareholder acquiring or selling shares has to notify the issuer of such transactions as soon as the acquisition or disposal of shares results in an amount of voting rights that exceeds, falls below or reaches the threshold – for example the German Authority, BaFin (Federal Financial Supervisory Authority) places the thresholds at 3%,5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%.

In the South African context, the Transparency Directives (Voting Notifiable) can be compared to the Companies Act (2008). Section 122 requires notification in the event that a ‘beneficial interest in sufficient securities of a class’ is acquired or disposed of. In this case, the threshold is at 5%, 10%, 15% or any further whole multiple of 5%.

Because notifiable limits are complex by their nature, compliance demands highly accurate, ongoing interventions – well beyond the capacity of most organisations if approached manually.

To address this challenge, StatPro developed a comprehensive global Transparency Directive rule book, which enables effective and efficient monitoring of thresholds to ensure that risks are minimised and managed in a holistic manner. This pre-packaged rule book, SPC Transparency Directive, caters for the majority of the European Union nations and clearly stipulates the limits imposed per country. Furthermore, the rule book supports the entire compliance life cycle for an organisation, providing automated alerts to manage possible contraventions – with thresholds or breach limits customisable to any percentage of tolerance required. Similar rule books have been developed to address the compliance challenges in other regions and to enable the rapid deployment of an effective post trade compliance solution.

Automation and advanced post trade solutions are essential for supporting compliance, as well as for improving efficiencies by removing the mundane, time-consuming and error prone manual activities that can hamper innovation and growth. In line with the saying ‘If you don’t evolve, you will die’, it has become imperative for businesses learn to harness technology to underpin their compliance function, in order to remain relevant and competitive.