J.P. Morgan is a long-term Bravura client, having previously implemented the Rufus global transfer agency solution. The most recent project employed Bravuraâs Babel application to process trades for life funds in J.P. Morgan Asset Managementâs Transfer Agency Operation.
Bravuraâs Babel is an intelligent STP financial messaging solution. It automates external linkage to a variety of markets and counterparties, using almost any message medium or format. Babel seamlessly adapts to any necessary business logic, directly or via the worldâs major platforms and comprises an extensive set of modules that manage different messages and transactions, external connectivity to particular markets and platforms, as well as specific message protocols.
Dan Watkins, Head of European Operations, J.P. Morgan Asset Management, said: âWe needed a STP solution for our Life Funds client which also supported the ISO 20022 ViaNova* message format. Our long-standing partner, Bravura, had the products and capability to support complex asset management operations, making them the perfect fit for our requirements.
âThe implementation of Babel has extended our STP capacity in the UK and, importantly, supports ViaNova standard instructions.â
Tony Klim, CEO EMEA, Bravura, said: âThis is a significant achievement for Bravura and J.P. Morgan.
âIt highlights our ability to provide STP solutions for our clients and enable them to introduce operational efficiencies and service improvement to their investors. We are delighted to have worked so closely with J.P. Morgan and helped them to implement another UK STP capability.
âWe are also pleased that our widely used Babel product now supports ISO 20022 format trading, which is important in demonstrating Bravuraâs ability to fully support our clientsâ objectives in the transfer agency market.â
Implementation of Babel at J.P. Morgan Asset Management was completed in 2009 when the company immediately began to receive âliveâ trades. All milestones were achieved on time and did not impact service to J.P. Morganâs clients.