Transfer Agency Integration of Reference Data and Trade Data
Customer Profile
A global investment manager with €147.2 (US$179.9) billion assets under management in a full range of asset management solutions including mutual funds, single manager funds, funds of hedge funds, managed accounts and structured products.
Requirement: STP Between Fund Manager and Transfer Agency
The customer is using PolarLake to integrate with a Transfer Agency application, submitting fund management instructions across the SWIFT network and integrating with the application through a Web Services interface.
The company wished to improve operational efficiency, guarantee accuracy, and lower the development cost and risk associated with integration with a third party agency.
Solution: Transformation of Complex Message Formats
By using PolarLake the customer is able to:
- Automate the complex data transformations - such as from SWIFT to XML - required within this project quickly and easily
- Perform ongoing auditing and monitoring of traffic between the two parties and integrate this function with existing Business Activity Monitoring approaches
- Significantly reduce the up-front and ongoing investment required to automate the relationship
- Convert outputs from the Transfer Agency application into SWIFT messages in order to communicate confirmations back to client brokers and dealers
PolarLake’s ability to support multiple data formats, transport protocols and integration methods supports asset managers developing tight integration with multiple business partners including transfer agencies, prime brokers and global custodians – each of whom may require data to be delivered in different formats and using different technologies.
Why PolarLake? Ability To Extend And Evolve
PolarLake was chosen for this project for a number of reasons, including:
- A preference for configuration over traditional code-centric approaches. The latter approach to this challenge would be complex and involve significant development risk. Within PolarLake, however, the integration can be configured graphically and prototyped rapidly
- The ability to extend the system quickly and easily as requirements for integration between the two organizations change over time
- The desire to adopt standards-based integration (based around XML and Web Services) required a solution capable of supporting both these standards and also the data formats (such as SWIFT) particularly associated with Financial Services environments. PolarLake was uniquely positioned to provide this functionality