London-headquartered asset manager Schroders has selected Bravura Solutions' Babel software for its messaging network infrastructure.
Coupled with its use of Bravura's Global Fund Administration System, the implementation of Babel will aid Schroders in developing its straight-through processing (STP) capabilities. Its transfer agency business will now be centered through a hub in Luxembourg, with private connections to institutions such as the Depository Trust and Clearing Corporation (DTCC) and National Securities Clearing Corporation (NSCC) active for high speed US trade, along with other regions.
"Direct connectivity to NSCC, using Babel to replace our previous arrangement of access via an intermediary agent, has brought us closer to our clients in the Americas and has enabled us to deliver a higher quality of service," says Gary Janaway, head of operations at Schroder Fund Services, Luxembourg. "Using Babel we have been able to extend our service offering to include options such as the NSCC Automated Customer Account Transfer, a service requested by our broker-dealers."
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