Wall Street Letter VOL. XLV, NO. 35 - Nov. 7, 2013 | Page 8
NEWS
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recently a global custody service allowing US managers to book global service
from the US (WSL Online, 11/19/12).
In a briefing with media in New
York, Patrick Colle, CEO of BNP
Paribas Securities Services, said the offering is one the group is considering
but the path to the offering isn’t clear.
“We are looking for a way to obtain
these capabilities… we can build it,
acquire them, do a liftout of some
sort, so we are exploring all of those
options at the moment,” he said.
Claudine Gallagher, regional
manager for North America, said the
group is just starting to focus in on
how the unit should be structured in
the event of an acquisition specifically
in terms of the number of staff, assets
under administration, whether there
is a third-party platform available
or one designed to service in-house
funds that can be converted to be
more agnostic.
Gallagher noted the ideal offering
would allow the firm to provide
service for exchange-traded funds,
but she said that feature would need
to be developed in conjunction with
the addition of capabilities for its
custody service.
“For ETFs we have to go through
NSCC and we don’t have that today.
That is something on the agenda as we
start to enhance custody,” she added.
Colle noted a ’40 Act administration service would round out the
unit’s offering in terms of capability
but also from a strategy perspective.
“[We want] to be true to the first
reason why we go into the US, which
was to be able to support global,
non-US clients investing in the US,”
he added.
TECHNOLOGY
SoftwareAG to add
messaging, historical
data to platform
SoftwareAG is integrating its
Terracotta data manager and
TECHNOLOGY
NRI to leverage, expand partnerships globally
T
he Nomura Research Institute is
looking to leverage partnerships it has
recently entered with software developer
Omnesys Technologies and IT services
provider Global Investment Initiative (GII)
to reach emerging markets, according to
Hiroki Shimada, senior business development at NRI.
The consultant and global IT provider
announced last week its India-based subsidiary, NRI Financial Technologies India,
has partnered with Omnesys and GII to
provide service to ResCap Securities, a
Mongolia-based corporate finance advisor.
Through the partnership, the three providers will provide a seamless front to back
offering for the company to service the
ResCap’s brokerage operations.
“The partnership is to bring the
[software-as-a-service] model solution to
multiple brokers in the industry,” Shimada
told WSL via email.
ResCap is just the first to take advantage
of the offering, and Shimada noted additional interest from Mongolia will allow the
company to leverage the partnership further.
“Within Mongolia we are seeing strong
interest from brokers and even banks who
are trying to develop securities services,
where we consider GII being the right
partner,” he explained.
Beyond the Asian country, Shimada said
the partnership with Omnesys will prove
instrumental. Additional relationships
with other local partners are also being
developed, he noted.
“Through this we are trying to capture
the momentum of each local market and
contribute to them by strengthening their
infrastructures at the right time.”
the Nirvana universal messaging
offering to the recently acquired
Apama trading infrastructure in an
update being referred to as Apama
5.1, according to John Bates, chief
technology officer and a member of
the group executive board.
The update allows for cross-checking of real-time historical data and
messaging capabilities across enterprise, cloud and mobile applications
and is scheduled for rollout within
the next month, according to Bates.
He noted it is currently undergoing
internal quality assurance testing.
He noted client demand for
low-latency data management and
improved messaging capabilities
pushed SoftwareAG to incorporate
the offerings on Apama, which was
acquired from Progress Software in
July of this year.
“There is need for real-time enrichment of data and historical cross
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