Challenges
Per the client “Prior to MarketBridge implementation our firm experienced difficulty maintaining security master data, establishing new securities and keeping active information current for about 500 securities in a consistent, reliable and automated manner”.
- Manual lookup and data entry while adding or updating securities
- Maintaining MSCI GICS Industry Classifications for the securities was time-consuming and error-prone
- Need for a secondary source of price and index data
- Required Bloomberg security master, pricing data integration with Advent APX
Benefits
- Weekly automated unattended update of security master and industry classifications data for the global holdings and watch list securities into the portfolio accounting System
- Daily automated unattended update of early prices, end of day prices for global holdings and index rates into the portfolio accounting system
- Resulted in significant servicing improvements with timely client and performance reporting
- Enhanced portfolio accounting procedures, increased operational efficiencies and minimised error
Per the client “Our jobs have become easier as a result of having MarketBridge software in place. The peace of mind in having processes that are completely automated, with the option to manually run jobs ad-hoc is invaluable. “