It seems everyone is scrambling to extend their service offerings ahead of July’s implementation of UCITS IV.
It seems everyone is scrambling to extend their service offerings ahead of July’s implementation of UCITS IV. After reporting last week that Algorithmics had launched a risk reporting solution (Algo Risk Reports), Merchant Capital has rolled out comprehensive pre- and post-trade compliance applications for its Dublin-domiciled UCITS platform. The new cloud-based technology will give clients the necessary software needed to execute fast and simple pre-trade order entry and post-trade compliance checks. Being cloud-based applications, it means that managers can avoid being burdened with additional hardware, thus saving on IT costs. Full compliance monitoring and reporting software will necessarily strengthen the transparency of UCITS funds. Tools included in Merchant’s “apps” include, amongst others: compliance stress testing and ‘what if’ scenarios, full breach workflow and document management, open reporting interfaces, and integrated data management tools. Co-founder of Merchant’s UCITS platform, George Cadbury (pictured), said that “pre-trade compliance” was set to become a by-word in the UCITS fund industry during 2011. “Merchant Capital’s new pre-trade compliance system will be a critical tool for fund managers and COOs when adapting their funds to UCITS,” said Cadbury. “It is essential for both regulators and investors to be comfortable with managers adhering to the UCITS rules and not just via being cognisant of breaches once the trade has already been carried out.”