News

By Eugene Grygo, FTF News

BMO Global Asset Management has been able to stretch an investment book of record (IBOR) across its front, middle and back offices to boost Ops and keep the front office happy.

When BMO Global Asset Management was splicing together two registered investment advisor businesses – the result of an acquisition – the firm had no idea that one day it would be stretching an investment book of record (IBOR) across its front, middle and back offices and advancing the firm’s accounting system, performance platform and settlement process.

By Eugene Grygo, FTF News

Julie O’Connor, COO for Johnston Asset Management, details how she guided the firm away from a billing system based on a massive Excel spreadsheet and to an automated platform.

It’s likely that Julie O’Connor, the chief operating officer (COO) for Johnston Asset Management, doesn’t miss the burden of sorting through the endless cells, rows and add-ins of a gigantic Microsoft Excel spreadsheet to complete the invoicing process for the SEC-registered investment advisor based in Stamford, Conn.

By Louis Chunovic, FTF News

Electra Information Systems, a provider of software solutions for the asset management industry, has launched Electra Billing 3.0, the firm’s workflow-based revenue management solution.

It provides customizable fee billing, including performance fees and complex fee schedules, Electra says in a statement.

ISS-MAG

Electra Information Systems announced the launch of Electra Billing 3.0, a revenue management solution for customised fee billing, including performance fees and complex fee schedules.

Previously known as Quantum, the product includes new functionality designed to make it more user-friendly as Electra looks to tap in on an increased focus on the buy-side to improve operations and cut costs.

By Jake Safane

Software provider Electra Information Systems has launched a new version of Electra Billing, which provides asset managers with automated fee billing, customizable to their fee structure.

Asset managers are about to get a new billing system designed to automate their and secure their workflows.

Electra Information Systems has brought its newest billing system, Electra Billing, which gives the buyside an easy-to-use system that includes new data automation, security upgrades and digital tracking functionality. It is fully customizable.

The long-only, Connecticut-based equities specialist with $3.8 billion under management will use Electra's Billing 3.0, formerly known as Quantum, for revenue workflow management and customized billing, including performance fees and complex fee schedules.

Microsoft Excel spreadsheets continue to be broadly used at asset management firms. New regulations, risk management concern, and technological advancements are leading buy-side companies to examine ways to lessen their dependencies on these ubiquitous, manual solutions.

The damage caused by banking scandals may have been minimized by an event-driven reconciliation solution, says Todd Sloan, senior vice president of reconciliation systems at Electra Information Systems.

2014 is slated to be the first real test year for a number of critical provisions of Dodd-Frank, and in Europe the AIFMD, EMIR and proposed banking union will only add to that overhead. No one including the regulators themselves are fully aware of how all of this will play out.