Empaxis, a provider of operational services and support for asset managers and prime brokerage firms running Advent applications, has launched a new quality assurance overlay system designed for Advent’s Axys and APX portfolio management applications.
The system was built to help buy-side firms running these applications to maintain and verify the accuracy of the portfolio accounting and trade reconciliation reporting that Empaxis provides its clients on a daily basis. Currently specialists in those firms carry out the data validation and quality control functions.
“With new trends constantly emerging within the industry, particularly to fixed income securities purchases, it is imperative to employ a quality assurance system that detects any missing prices immediately and effectively,” said Stephen Van de Wetering, CEO of Empaxis. “This new system is designed to locate and address these issues that the typical quality assurance overlay system would overlook due to rapid advancements in financial technology and investment outsourcing.”
(JDC)