The tool from HSBC will allow asset managers to assess the effectiveness of hedging strategies and will be integrated with the bank’s single dealer platform later this year.
The French asset manager giant said its new Amundi Technology line will become a new growth driver, with a predicted revenue of €150 million within five years.
The new capability is the next step in State Street’s goal to encourage buy-side clients sto participate in peer-to-peer trading activities in the securities finance market.
The deal will integrate EDS decision support tools with Northern Trust’s core technology platform, providing it with new data science capabilities.
For asset managers that seek to use a third-party vendor to manage their CSDR compliance, time is running out to finalise those relationships.
The launch of the tool comes as regulators are preparing to increase scrutiny on asset managers to oversee their third-party providers.
The greenfield solution will utilise the cloud-based data technology and security to transform middle- and back-office operating processes of buy-side firms.
Asset managers and asset owners with over $100 billion in assets under management (AuM) said they plan to reduce their number of service providers.