SmartStream Technologies says BlueBay Asset Management (BlueBay) has bought its TLM Corporate Actions and Reconciliations applications.
Simon Lumsdon, IT Director at the London-based fixed income fund manager, says the purchase was necessary to support a rapidly expanding business. “By creating scalable, flexible operations we aim to continue to deliver outstanding service and returns to our clients whilst carefully controlling our cost and risk,” he says.
TLM Corporate Actions will automate the firm’s event management processes, with the aim of ensuring corporate actions are captured and processed within compliant timeframes. TLM Reconciliations will be used to automate the reconciliation and exception management of cash and stock transactions received from Sungard’s investment accounting application.
“We are delighted that BlueBay selected TLM Corporate Actions and TLM Reconciliations,” says Steve Moss, UK Managing Director, SmartStream. “The ease of use and scalability that TLM products deliver make them an ideal match for firms like BlueBay who are seeking immediate ROI from cost and risk reduction whilst building a transaction lifecycle management platform to support their sustained growth.”