Custody and Fund Administration
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The mandate covers an approximately $1 billion fund, and will include fund accounting, performance and risk analytics, and compliance services.
The new equities-only funds, traded electronically worldwide on Xetra, will be backed by a customized RBC Dexia solution.
Covering custody, investment operations, and other services, the outsourcing reappointment comes after an initial agreement in 2005.
Move reflects shift toward electronically traded futures and industry demand for independent clearing.
PrimeConnect will help funds track movement of collateral from custodians to prime services, as well as tri-party agreements.
Partnership follows on SEC rule change in March allowing the NSCC to undertake comprehensive processing of alternative investments.
Liquidity management tool to provide institutional investors with notification of exclusive control and termination, attachment capability.
Remaining stake in custody and fund administration provider to be bought for C$1.1 billion in cash.
Strengthening the market for securities custody, NSCC's new automated possession and control functions will further improve the DTCC's administration of alternative investments. By Tim Murray
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