State Street has partnered with Brevan Howard's outsourced operations service to deliver a new integrated front-to-back office services platform for hedge funds.
According to the two global custodians, both had reported a rise of at least 50% in back-office transactions in March verses the first two months of the year.
The partnership will combine Amundi’s portfolio management system with CACEIS’ middle- and back-office services for a broad front-to-back outsourcing platform.
SS&C has expanded Eze Eclipse to the EMEA and Asia-Pacific regions, taking the total number of clients of the front-to-back platform to over 110.
JP Morgan has now moved up to number two in the global custody rankings with just under $27 trillion of assets under custody.
The mandate suggests larger-sized asset owners and asset managers now see outsourced trading as a viable solution for their investment operations.
Citco has made ‘significant strategic investment’ with the aim of providing tailored middle-office services within a wider front-to-back strategy.
The improved performance in the last three months followed a renewed focus on its largest asset manager and asset owner clients.
A trend that defined global custody in 2019 and continues to spark debate, Global Custodian investigates the front-to-back data models of the market’s two largest providers.