Dexia Fund Services has bought Linedata Compliance, a compliance checking application for fund managers developed by Linedata Services. It is already live in Europe (Ireland, Luxemburg, Belgium, Switzerland, Italy) and in Asia (Hong Kong, Singapore). Dexia Fund Services is now planning to implement Linedata Compliance in France.
“We have built a strong relationship with Linedata Services during the last few years,” said Michel Malpas, President of the Executive Committee of Dexia Fund Services and member of the Board of directors of Dexia Banque Internationale in Luxembourg. “We are very satisfied with the success of various projects that we have undertaken so far. Linedata Compliance has always surpassed our compliance requirements and delivered real added-value. Due to product development and evolution, Linedata Compliance will enable us to continue to extend our competitive advantage and raise our levels of service to our end customers.”
Pascal Xatart, General Manager for Linedata Services Asset Management, added that he was delighted with the deal on a number of levels – “not least because it allows us to grow our commercial relationship with Dexia Fund Services globally, but also because it confirms our ability to act as a strategic partner, supporting Dexia Fund Services in their international growth. Dexia Fund Services’ long term commitment to Linedata Services further validates the unrivalled functionality within our compliance solution, Linedata Compliance.”