Trace Launches New Communications Tool For Transfer Agents and Fund Distributors

WebTM, a new web browser based data entry and message generation tool originally created by Trace Datawise for Deutsche Bank, was officially launched at the Sibos conference in Geneva today. Trace says WebTM is one of the first software packages

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WebTM, a new web browser-based data entry and message generation tool originally created by Trace Datawise for Deutsche Bank, was officially launched at the Sibos conference in Geneva today. Trace says WebTM is one of the first software packages to integrate “trade entry capabilities into a customisable investment management web platform.”

Deutsche Bank is rolling WebTM out to its customers as dbPortfolio Instruction Entry with the aim of eliminating fax and telex communications from fund managers and retail stockbrokers. Once transactions are completed and accepted, a message is generated in a proprietary or industry-standard format such as SWIFT ISO 15022. This is passed into the hosting institution’s back-end systems, or on to another institution for further processing.

Says Trace Datawise Managing Director Jo Sethi: “Transfer Agents and Fund Distributors could reap significant benefits by automating their data capture operations, without having to impose fat-client workstation solutions on their customers. Larger companies using WebTM could save money by replacing their existing point-to-point connections. If the host institution’s IT strategy includes sponsoring a SWIFTNet Closed User Group for its clients, WebTM is the perfect application to place at the centre in order to make this strategy a reality.”

Peter Jacaruso, Global Head of Product Development in Deutsche Banks’ Global Securities Services unit, adds: “To date, few organisations in our industry have the ability to offer an online trade entry application that is successfully integrated into a robust, customisable investment management web platform. We have delivered an end-to-end, extremely flexible trade entry solution that improves STP and increases client satisfaction. WebTM should help others in the same way.”

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