In other news, SS&C dives into ESG reporting, LTX hires two, and Baton Systems taps the Basel Committee on Banking Supervision.
Partnership Targets Performance Measurement
State Street is partnering with the Spaulding Group to offer performance services and operational support to asset owners that want to streamline Global Investment Performance Standards (GIPS) compliance, officials say.
An investment performance measurement services provider, Spaulding offers educational, consulting, and verification capabilities that will be combined with State Street’s performance services and operational support, officials say.
The partnership targets firms that are unfamiliar with the GIPS standards but need the resources “to advance their transparency goals about investment performance and achieve compliance,” says Karina Tanny, vice president, performance and analytics product lead, State Street, in a prepared statement.
The combined effort will encompass “four key areas of assistance, with State Street managing creation and maintenance, analytics calculation and reporting,” officials say.
The four areas are:
- Education — Industry experts offer support for “practical, actionable, knowledge-building services and a clear path to GIPS compliance;”
- Creation and Maintenance — “Capture all relevant data, create and maintain all composites and disclosures based on client instructions to meet the requirements of the GIPS standards;”
- Analytics Calculation — “Calculation of account, composite, and benchmark returns, and associated risk and firm analytics across all required entities and periods;”
- And reporting — “Creation and delivery of GIPS standards presentations”
The GIPS standards were created by the CFA Institute to help firms calculate and present investment performance based on “the tenets of fair representation and full disclosure,” officials say. — EMG
SS&C Embraces ESG Reporting
SS&C Technologies Holdings, Inc. reports the launch of its environmental, social, and corporate governance, or ESG, reporting platform, which is meant to help asset managers to “better monitor and report on ESG exposure in their portfolios.”
The platform will “support compliance with the EU Sustainable Finance Disclosure Regulation (SFDR) and deliver greater insights and transparency into ESG portfolio risks,” the vendor says in a statement.
“The market and regulators increasingly recognize that ESG factors can affect risk and return, and companies are facing increasing pressure to bring more transparency to this space,” Mike Megaw, managing director, SS&C Regulatory Services, says in the statement. “Our vendor-agnostic ESG solution platform ensures that managers and investors alike can easily access ESG information to make better decisions about their investments.”
Founded in 1986, SS&C is headquartered in Windsor, Connecticut. Approximately 18,000 financial services and healthcare organizations employ its services, the company says. — L. Ch.
Two Fintech Vets Join LTX
Broadridge Financial Solutions reports that Ted Bragg and Jim Kwiatkowski have joined LTX, a Broadridge company that provides an artificial intelligence-driven digital trading platform for corporate bonds.
They will “join the LTX leadership team, working closely with LTX CEO Jim Toffey to accelerate the digitization of corporate bond trading,” according to a Broadridge statement.
Both men join with more than 30 years of industry experience, per the statement.
“These latest hires reinforce Broadridge’s commitment and investment in LTX and we look forward to further strengthening our liquidity network, enabling more dealers and investors to trade smarter,” CEO Toffey says in the statement. — L. Ch.
Ex-Basel Committee Exec Joins Baton Systems
Baton Systems, a specialist vendor in asset movements and settlements, reports that William (Bill) Coen, former secretary general of the Basel Committee on Banking Supervision, has joined the company as a senior advisor.
Coen’s 35-plus-year career in financial services regulation includes “serving with the Board of Governors of the Federal Reserve System and a 20-year tenure at the Bank for International Settlements (BIS) in Basel, Switzerland. While serving as secretary general and chairman of the Basel Committee’s Policy Development Group, Coen spearheaded the Basel III post-crisis reforms,” per the Baton Systems statement.
His experience will “support the company’s accelerated growth plans and the delivery of robust, zero-friction processes across additional payment and settlement workflows,” the Baton statement adds. The vendor was founded in 2016.