Seeking to leverage its strengths in mutual fund processing, Depository Trust & Clearing Corp. (DTCC) is readying a service that automates pre- and post-trade processes for the alternative funds market. The service is expected to launch next year, pending regulatory approval.
"The explosive growth is straining a system that has relied on manual processes, spreadsheet-based recordkeeping and time-consuming paperwork," said Ann Bergin, managing director of DTCC wealth management services. "Lack of regulation and standardization has resulted in multiple and redundant processing strategies within and between organizations, and legacy technology can't handle the dynamic nature of alternative investments."
|
