Wells Fargo Global Fund Services, the unit of Wells Fargo that provides fund administration and operations services to hedge funds and other alternative investment funds, has launched its new client technology solution, RealSTP.
This initial release of RealSTP will offer real-time, intra-day visibility of trade data, confirmation status, settlement activity, and cash and collateral movements to hedge fund clients of Wells Fargo's middle-office and operations service.
It also includes an enhanced investor portal for all clients, allowing investors in funds serviced by Wells Fargo to have improved online access to their information.
Additional releases, scheduled throughout the remainder of the year, will add an enhanced accounting dashboard, with real-time accounting information updates, additional collateral management data, enhanced cash flow forecasting, operational trend analysis, reconciliations, and month-end status.
Clients already have access to real-time workflow for their OTC derivatives processing and this will be further integrated in an upcoming release.
"Trade capture through profit/loss is the easy part,” says Stuart Feffer (pictured), co-head of Wells Fargo’s global fund services group. “RealSTP provides our clients with true straight-through-processing. With RealSTP, our clients will now have real-time, intra-day access to the full process from trade capture to confirmation, settlement, cash/collateral management, asset servicing and profit/loss — for all asset classes, including equity, fixed income, credit, bank debt, OTC derivatives and financing trades. This is a real differentiator for our business."
RealSTP is now being rolled out to current clients of Wells Fargo Global Fund Services, and will be available to all new clients as of 1 March 2013.