As back-office activities become increasingly commoditised, fund administrators are realising the front-office is the key to stay relevant and competitive.
The investment will allow Libra to release new products and services which will support its fund administrator, trading operations and crypto exchange platform clients.
Middle-office services has been identified as a key growth target by custodians.
Majority of firms look to outsource middle-office functions as a way to reduce costs.
Ultimus will provide a range of middle-office services to Ranger Global's real estate mutual funds.
The DTCC has unveiled infrastructure changes to its middle office and post-trade functions.