In other news, SmartStream updates a key solution set, LTX shuffles execs, and NAB expands its contract with AWS.
Jupiter to Tap Into SS&C’s GIDS Offerings
The London-based Jupiter Asset Management has extended its transfer agency contract with SS&C Technologies, agreeing to let SS&C service Jupiter’s unit trusts and open-ended investment company (OEIC) fund range acquired in 2020 as part of the Merian acquisition, officials say.
In fact, SS&C Global Investor and Distribution Solutions (GIDS) will provide transfer agency services for a range of funds, which will be a portfolio of more than £28 billion ($34.4 billion), officials say
Jupiter, in partnership with SS&C, “has a particular interest in evolving its digital servicing offering. Jupiter will also take advantage of SS&C’s advanced data processing and analytics to gather insights into fund flow and client activity,” according to the announcement.
Jupiter manages equity and bond investments for private and institutional investors and oversees “assets across a wide range of international and U.K.- based mutual funds, investment companies and institutional mandates, as well as providing wealth management services,” officials say.
SmartStream Updates Cash Management Solution
Post-trade solutions vendor SmartStream has launched an update of its TLM Cash and Liquidity Management solution, v 3.1., which now offers the ability to augment data and define dashboards without the reliance on technical assistance, officials say.
TLM Cash and Liquidity Management v 3.1 “provides the ability to analyse data in the markets, making it easier for users to understand their current liquidity position,” officials say. “This user-focused design allows for one-click business functions directly from the dashboard, such as creating sweeps and managing fails and matches, as-well-as drilling down to individual cashflows.”
The updated system enables views that “can be saved in favorites instead of relying on fixed dashboards. This approach not only saves time but also the effort of defining dashboards and onboarding, thereby reducing the total cost of ownership,” officials say.
“This version is the outcome of many meetings we had with customers during which we asked what they would optimally want to from a solution. Though it took the design team an extensive amount of time and dedication, I believe we’ve developed a solution that combines usability and precision which has never been offered before,” says Nadeem Shamim, head of cash and liquidity management at SmartStream, in a prepared statement.
Broadridge’s LTX Shuffles Leadership Team
Jim Kwiatkowski
Officials at LTX, an electronic trading platform of Broadridge Financial Solutions, report that they have promoted Jim Kwiatkowski to the role of CEO of LTX from his post as chief revenue officer (CRO).
Kwiatkowski, who joined LTX in 2021 as CRO, will replace Jim Toffey, who serves as CEO and is a co-founder of LTX. Toffey will succeed Art Certosimo who is chairman of the LTX board of directors.
An electronic trading industry veteran, Kwiatkowski “spearheaded significant business, commercial, and operational developments, including strategic integrations with key OEMS partners and growth of the buy-side and dealer client base,” LTX officials say. “As chairman, Toffey will continue to promote innovation and advise on strategy and evolving market structure. Art Certosimo will remain on the LTX board.”
“LTX’s mission and goal is more relevant than ever — to solve the deep and complex liquidity issues in the credit markets through the use of AI [artificial intelligence] and advanced trading protocols,” Kwiatkowski says.
The leadership changes took effect on Nov. 30, officials say.
NAB Expands AWS Contract to Speed Up Critical Work
The National Australia Bank (NAB) reports that it has “signed a multimillion-dollar, long-term deal with Amazon Web Services (AWS),” an expansion that will help the bank speed up the uploading of critical workloads to AWS.
NAB has had a relationship with AWS since 2013.
“The renewed collaboration also includes NAB adopting the latest AWS innovations, including AWS Graviton processors designed to deliver the best price-to-performance for cloud workloads, helping NAB improve efficiency and sustainability in the cloud,” officials say.
“The cloud is now ingrained at NAB. … The cloud is powering our ability to deliver new and improved services to market more quickly for our customers, with added reliability,” says Patrick Wright, NAB group executive technology and enterprise operations, in a prepared statement.
“NAB started accelerating its cloud strategy in 2018 and has now moved 70 percent of its applications to cloud,” according to the announcement. “NAB recently became the first major Australian bank to move its business banking online platform to the cloud, migrated its global FX and trading platform (Murex) to the cloud, and collaborated with AWS and three other global banks to launch the Global Open Finance Challenge.”
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