IT firms poised to launch fund registration platform
From News May 31 2011 BY:
Luxemburg-domiciled IT firms CETREL Securities and KNEIP have joined forces to launch a platform for fund registration management and notification.
The platform is expected to become effective in June and aims to provide a cost-efficient platform for funds membership registration and notification in Luxemburg.
Renaud Oury, executive vice president at CETREL Securities said the platform had been in the pipeline for some time.
“This is a culmination of our reporting project that was started back in 2007 when we established the SOFiE SORT communication gateway through to the Luxembourg Bank authority. Working with KNEIP has presented us with the opportunity to build a solution around the needs of the asset managers, promoters as well as administrators, auditors and legal advisers.”
Bob Kneip, chief executive officer at KNEIP, said he hoped the service would be used by financial institutions throughout Europe.
"Capitalising upon our international asset management client base, it is our intention to open this service to the European fund community at large,” he said.
KNEIP is a service provider for the fund industry, providing fund distribution support, data management, fact sheet production and automated management of corporate actions among other services.
CETREL Securities is a financial data provider which provides data management, data contingency services, consulting and a secured reporting channel.