Financial Tradeware Selected by Altus for ISO20022 connectivity enabling ViaNova messaging in the UK Pensions industry

16 February 2009

Financial Tradeware, provider of Portfolio and Fund Management Straight Through Processing (STP) solutions for the investment management industry, today announced it had been selected by Altus, the Information Logistics specialist, to supply SWIFT connectivity to Pensions market participants.

Working collaboratively, Financial Tradeware will provide the infrastructure for messaging standardisation and SWIFT connectivity. Altus supplies the ISO20022 processing of pricing and investment information between the funds companies and administrators.
The Altus Instruction Gateway automates the investment process for pension administrators using the ViaNova market practice. The immediate benefit of adopting an automated approach is a reduction in administrative effort through removal of manual processing steps. Perhaps more important, however, is the reduction in risk as transcription errors are eliminated, approvals are more strictly controlled and the process more easily audited. Lastly, and by no means least, is an improved service to clients by providing instant up to date price and holding information and the potential of faster and more frequent transaction cycles.
“We are delighted to be part of the ViaNova ISO20022 market initiatives, providing a range of standard connectivity components to enable all players to take advantage of common rather than proprietary systems, and to participate in industry accepted usage of the ViaNova standards. Utilising the SWIFTNet technical infrastructure of our sister company, Européenne de Gestion Privée, we look forward to working closely together for the benefit of the community.” said Graham Bright, Managing Director Financial Tradeware.

Ben Cocks, Products Director at Altus, said: “Altus take a broad view of STP and believe that only by automating the end-to-end business process will the real benefits of STP be realised. But ultimately our offering still depends on cost effective and dependable SWIFT connectivity and for this we are happy to rely on Financial Tradeware.”



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