Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Technology news
  3. Fund accounting headache for BNY Mellon
Technology news

Fund accounting headache for BNY Mellon


28 August 2015 New York
Reporter: Stephanie Palmer

Generic business image for news article
Image: Shutterstock
BNY Mellon is still experiencing problems with producing system-generated net asset values (NAVs) for its US fund accounting clients after the system failed on Wednesday 26 August.

The glitch was reportedly a result of an update to SunGard’s InvestOne accounting platform, and as of 8.30am local time in New York, indicative NAVs for some ETFs are still unavailable.

Although system processes began to improve on the evening of Thursday 27 August, NAV processing for Wednesday are still delayed with no estimated time for completion.

As many as 20 daily-valued registered mutual fund companies and 26 ETF providers have been affected. Additional non-daily funds are also supported on the platform, but do not appear to have seen any market-facing impact

According to BNY Mellon, there have been no restrictions on investor trading as a result of the issue.
← Previous technology article

SunGard apologises for BNY Mellon NAV glitch
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →