M & G, a fund management arm of the Prudential, today announced that they had launched Trace Financial’s CAMS system for automating corporate actions.
M & G selected Trace Financial’s CAMS product after a beauty parade. Alan Burgess, Director of Administration says that “a key selection criteria was the overall flexibility to tailor the product to our own needs not only for today but to position the M & G group to leverage this product and the overall relationship with Trace in the future. It was a phased approach with specific detailed customisation provided by Trace Financial for M & G to meet their requirement. Evaluation and reduction of risk across the Corporate Actions process was paramount”.
CAMS provides a straight through exception-based processing environment. It deals with record keeping, archiving, auditing, event handling, operational compliance and workflow management as well as many other features across the variety of definable voluntary and mandatory event types.
Jim McCaffrey, Lead Project Manager at M & G said: “We are pleased to be able to announce the implementation of CAMS. The completion of this project is in line with our continuing commitment to provide a true STP solution for all our clients both external and internal and to our service providers. Trace Financial is an established provider with considerable expertise in the securities and equities markets”.
John Murphy, Managing Director of Trace Financial, commented: “We are delighted that M & G are live with CAMS adding to our prestigious client base. By year end we will be announcing more live CAMS sites in the production environment and we are continuing to invest heavily in CAMS to maintain the strength of our position in the market place”.
Naren Patel, Director Marketing and Business Development adds :” M & G’s decision to choose CAMS as the best of breed STP product in Corporate Actions demonstrates the value the Company places on Trace Financial’s commitment to providing service quality of the highest calibre. We are very excited that this new partnership with M & G will build on our respective strengths and provide significant long-term business opportunities for both companies”.
Claire Lloyd Vine, Senior Sales Manager adds “M & G decision to use Trace’s use of proven industrial strength workflow enables great flexibility and ensures that M & G can always cater for changing requirements in the Corporate Actions arena”.