DST upgrades asset servicing solutions
23 November 2011 London
Image: Shutterstock
DST Global Solutions has launched the latest version of HiPortfolio® 3v10, its investment accounting and asset servicing solution. This version is the latest in a regular cycle of functional and technical enrichment, based on client needs and DST Global Solutions R&D programme.
Gert Raeves, research director, Capital Markets, TowerGroup comments “In today’s cost constrained environment, investment managers are looking to maximise value from their core systems with wider functional and asset class coverage. Support for derivatives and reconciliation processing as well as regional tax and market practice requirements, can help firms balance the need for innovation with the operational efficiency of a single post-trade environment. It is encouraging to see market leading solutions such as HiPortfolio are responding to industry needs.”
“Stringent regulatory requirements and today’s more demanding investor has impacted the way we must support our clients’ evolving businesses, downstream processing and reporting requirements,” said Geoff Harries, Global head of asset servicing, DST Global Solutions. “The upgraded HiPortfolio solution was improved based on specific client demands and is now available to existing HiPortfolio clients. We expect upgrades to start during Q4 2011.”
HiPortfolio 3v10 has extended the depth of processing in a number of key operational areas in terms of derivatives processing, reconciliation and unit pricing to offer operational efficiency and help deliver cost reductions. Derivatives processing has been enhanced to provide capability for Total Return Swaps (TRS) and Contracts for Difference (CFD). This extends the current strategy to allow clients flexible accrual processing and to leverage existing systems within a client’s operations with HiPortfolio focused on the areas of cashflows, resets, corporate actions and investment accounting.
In the area of reconciliation, the improvements provide more module parameters to meet diverse sets of business processes, such as Foreign Exchange reconciliation, and the ability to trigger e-mail alerts to speed up exception resolution.
For unit pricing, the focus has been to streamline the operational process, by providing more configurations in the creation of attribution reports to explain exceptions, to speed up the key area of issue resolution and to ensure that unit prices are published on time and in high quality. In addition, specific market enhancements have been made to deepen the functionality for Australian clients who need sophisticated processing associated with Tax of Financial Arrangements (TOFA) requirements, such as re-estimations for future cash flow changes, US Insurance requirements for National Association of Insurance Commissioners (NAIC) quarterly and annual updates and the extension of instrument coverage to support market specifics for Chinese OTC Repos.
Arun Sarwal added, “In the key areas of challenge in the industry today, these latest enhancements are a continuing demonstration of DST Global Solutions’ R&D commitment to keep HiPortfolio current for its global client base. Our recent industry recognition confirms that we are responding to, and meeting, the ongoing challenges within the asset servicing sector.”
Gert Raeves, research director, Capital Markets, TowerGroup comments “In today’s cost constrained environment, investment managers are looking to maximise value from their core systems with wider functional and asset class coverage. Support for derivatives and reconciliation processing as well as regional tax and market practice requirements, can help firms balance the need for innovation with the operational efficiency of a single post-trade environment. It is encouraging to see market leading solutions such as HiPortfolio are responding to industry needs.”
“Stringent regulatory requirements and today’s more demanding investor has impacted the way we must support our clients’ evolving businesses, downstream processing and reporting requirements,” said Geoff Harries, Global head of asset servicing, DST Global Solutions. “The upgraded HiPortfolio solution was improved based on specific client demands and is now available to existing HiPortfolio clients. We expect upgrades to start during Q4 2011.”
HiPortfolio 3v10 has extended the depth of processing in a number of key operational areas in terms of derivatives processing, reconciliation and unit pricing to offer operational efficiency and help deliver cost reductions. Derivatives processing has been enhanced to provide capability for Total Return Swaps (TRS) and Contracts for Difference (CFD). This extends the current strategy to allow clients flexible accrual processing and to leverage existing systems within a client’s operations with HiPortfolio focused on the areas of cashflows, resets, corporate actions and investment accounting.
In the area of reconciliation, the improvements provide more module parameters to meet diverse sets of business processes, such as Foreign Exchange reconciliation, and the ability to trigger e-mail alerts to speed up exception resolution.
For unit pricing, the focus has been to streamline the operational process, by providing more configurations in the creation of attribution reports to explain exceptions, to speed up the key area of issue resolution and to ensure that unit prices are published on time and in high quality. In addition, specific market enhancements have been made to deepen the functionality for Australian clients who need sophisticated processing associated with Tax of Financial Arrangements (TOFA) requirements, such as re-estimations for future cash flow changes, US Insurance requirements for National Association of Insurance Commissioners (NAIC) quarterly and annual updates and the extension of instrument coverage to support market specifics for Chinese OTC Repos.
Arun Sarwal added, “In the key areas of challenge in the industry today, these latest enhancements are a continuing demonstration of DST Global Solutions’ R&D commitment to keep HiPortfolio current for its global client base. Our recent industry recognition confirms that we are responding to, and meeting, the ongoing challenges within the asset servicing sector.”
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