InvestOpsDaily
news
THE OFFICIAL NEWSPAPER OF INVESTOPS 2019
DATA
BNY Mellon strikes major front-office
alliance to integrate custody data
CUSTODIAN FOLLOWS UP ON BLACKROCK DEAL IN APRIL WITH INTEGRATION OF ITS CUSTODY AND FUND ACCOUNTING
DATA WITH MOST-USED OMS IN THE MARKET
B
NY Mellon has struck another deal with a
major front-office system, as the world’s
largest custodian looks to connect its data to
leading global trading platforms.
BNY Mellon will begin integrating its custody
and fund accounting data with Bloomberg and
its order management system (OMS) – AIM –
Global Custodian can reveal.
Buy-side firms using Bloomberg AIM that are
mutual clients of BNY Mellon will be able to gain
direct access to its custody and fund accounting
data, as well as analytical workflow tools.
“We are working with Bloomberg to provide
front-to-back data and certain outbound/in-
bound files in order to help clients effectively
get the information they need faster and where
they want to receive it,” Hani Kablawi, CEO of
global asset servicing at BNY Mellon told Global
Custodian.
The move is the second this year after BNY
Mellon teamed with BlackRock in April to create
a front-to-back data service for its 40-50 mutu-
al customers via Aladdin.
The partnership with Bloomberg could involve
a wider range of mutual clients, due to the fact
that AIM is the most-used OMS by asset man-
agers, according to research from Greenwich
Associates in March.
The two alliances are also the cornerstone of
BNY Mellon’s open architecture strategy, effec-
tively allowing the custodian to work with the
trading platforms of their buy-side clients.
“No two OMS are the same, and no two
alliances will be exactly the same, which is why
it plays into our open architecture strategy. Cli-
ents want freedom of choice – they might find
one OMS is more functional or more efficient
than the other for a certain asset class – so we
will work with them [Bloomberg] to integrate
the data and get the dashboards out to ensure
the end client experience is as good as possible,”
added Kablawi.
TECHNOLOGY
State Street enhances analytics platform
for asset owners with FinTech partnership
THE PARTNERSHIP INCORPORATES THE SOLOVIS ANALYTICS APPLICATION TO MANAGE DATA AND TRADITIONAL
ACCOUNTING BOOK OF RECORDS WITH ALTERNATIVES ASSET DATA.
S
tate Street has partnered with portfolio
management and analytics firm Solovis
to enhance its data services for its asset
owner clients.
The enhancements will allow asset own-
ers to manage, view and analyse all of their
investment data on a centralised platform
across asset classes.
The partnership will incorporate the
Solovis analytics application to seamlessly
manage data and traditional accounting
book of records with alternatives asset
data, including third-party information.
Asset owner clients will then be able to
run difference scenarios for performance,
attribution, and ex-post risk across their
portfolios.
“The complexity of today’s investment
landscape has increased the need for
greater transparency across all asset class-
es and portfolios,” said Brenda Lyons, head
of product for State Street Global Services.
“For example, asset owners are increas-
ing allocation to alternatives, which require
more robust analytics and reporting than
traditional assets. To meet this demand for
increased visibility, we’ve partnered with
Solovis and designed a comprehensive,
multi-asset class platform that will equip
firms with the information and insights
they need to track performance and identi-
fy new opportunities for growth.”
The development from State Street
reflects the increasing operational and
technology challenges complex asset allo-
cators are now facing.
Wrap-up
globalcustodian.com
7