More new mandates for SimCorp 24 August 2017Copenhagen Reporter: Jenna Lomax
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Australian-based FIIG Securities and Danish investment company Novo Holdings have both chosen SimCorp’s solution, Dimension, to upgrade their investment platforms.
FIIG Securities and Novo Holdings will use Dimension’s inbuilt investment book of record (IBOR) to provide copies of data and to assess fixed income coverage, in a bid to improve risk management, performance measurement and reporting services across their front, middle and back offices.
According to SimCorp, companies such as FIIG Securities and Novo Holdings are carrying out client reporting improvements partly to adhere to new regulatory requirements.
FIIG Securities and Novo Holdings agreed their mandates with SimCorp just days after Danish asset manager C WorldWide Asset Management Fondsmæglerselskab extended its SimCorp Dimension licence agreement.
The agreement includes the initiation of the Data Warehouse Manager and the SimCorp Coric client communications tool—also signed in a bid to improve its client reporting capabilities.
Jim Stening, founder and managing director of FIIG Securities, said: "The choice of SimCorp Dimension is an important strategic step for us and our clients.”
He added: “Our advisors will continue to provide clients access to high-quality fixed income investments and bond financing, but now they will also be supported by SimCorp’s scalable, cost-efficient platform.”
Hans Otto Engkilde, managing director of SimCorp for Northern Europe, commented: “The agreement with Novo Holdings is a testament to the fact that the continued investment into our products and services makes us attractive to many types of investment companies.”
Regarding the FIIG Securities deal, Oliver Johnson, managing director at SimCorp Asia, said: “SimCorp Dimension’s depth of fixed income instrument coverage allows us the opportunity to deploy our advanced solutions to better serve FIIG Securities’s clients. We are delighted and proud to be selected by FIIG and are excited to work with them to grow their business through our cutting-edge technology.”
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