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Linedata strengthens European custodian and fund administrator presence

Scalability, controls and automation are drivers in meeting evolving regulatory demands

Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that it continues to support its European custodian and fund administrator client base as demonstrated with the recent upgrades of four key Luxembourg-based clients to the latest version of Linedata Compliance.

As custodians and fund administrators continue to respond to the many challenges they face from the increasingly complex regulatory landscape, they require their key compliance operations to be scalable and automated. With greater demand for transparency by regulators and investors, scalable compliance reporting capabilities are paramount to meeting these needs. The continued convergence of traditional and alternative funds requires these firms to have efficient compliance processes.

Leveraging Linedata Compliance for its intuitive and comprehensive breach management, stronger internal controls through a maker/checker (four eyes) review process, investor service providers are able to take advantage of full audit trails and enhanced rule and formula builders. Superior historical breach views allow custodians and administrators to review and compare results for historical periods of time alongside current breach management reports.

As regulators continue to increase their level of scrutiny into alternative investments, the forthcoming AIFMD regulations place an additional burden on alternative managers and their service providers. Linedata has a comprehensive AIFMD solution already in production that automates compliance with these new regulations. With the July 2014 deadline fast approaching, firms cannot delay selecting tools to meet these requirements.

“With Linedata Compliance, we have confidence in the controls we apply to our clients’ regulatory and statutory constraints. All of our funds are automatically monitored with a full audit trail. Passive breaches are managed using structured workflows reflecting each client’s unique processes, ensuring they are able to satisfy their mandates. This way, using daily post-trade compliance, we are proactive in managing our breaches upfront as well as against breaches that would have a material impact,” Jean-François Fortemps, Managing Director of MUGC Lux Management S.A., the Management Company of Mitsubishi UFJ Global Custody (MUGC) Luxembourg.

“For over 13 years we have worked with our Luxembourg-based clients and we recognize their need to provide competitive services to their asset management clients and investors. As they look to technology to differentiate themselves and streamline costs, Linedata Compliance is well positioned to provide the performance and stability they require,” comments Robin Strong, Director of New Business and Client Strategy, EMEA at Linedata. “With clients running up to 1000 reports an hour and audit requirements for daily controls, Linedata continues to strengthen its compliance workflows to meet these challenges.”

Linedata Compliance delivers comprehensive, fast integrated compliance monitoring across all assets, markets and company locations within a single instance to over 85 firms worldwide. It is available as an integrated solution either with existing proprietary/third party front and back office systems or with other Linedata solutions. As a technology partner, Linedata is not just a software provider; Linedata experts also provide Linedata Compliance Managed Service to support clients in their mission critical compliance requirements. This combined approach of compliance software and managed services enables our clients across the globe to respond to their many regulatory needs and provide them with deep compliance expertise at both the global and local level.