 |
|
 |
 |
|
Vestmark announces commitment to provide seamless connectivity with the DTCC Central Communication Gateway for Managed AccountsWakefield, MA - October 18, 2006 - Vestmark today announced its commitment to provide seamless connectivity to the new service provided by The Depository Trust & Clearing Corporation (DTCC) to centralize and streamline the processing of managed accounts. Connectivity will be established between DTCC and the Vestmark Managed Accounts Platform (VMAP). VMAP is a modular system offering flexible configuration of account opening, portfolio accounting, portfolio manufacturing (including asset allocation, model management, restriction management, account monitoring, and rebalancing), trading, reconciliation, reporting, and compliance. Vestmark has already put in production the data and communication standards created by the Money Management Institute (MMI)."The new service from the DTCC will be a major benefit to the overall managed accounts industry," said Rob Klapprodt, President of Vestmark Software. "Vestmark's clients in particular will benefit from increased operational efficiencies, superior customer service, and greater flexibility in determining investment management options and distribution partners." "Vestmark's technology platform and DTCC's automated service bring tremendous efficiencies and world-class capabilities to this growing market segment," said Ann Bergin, Managing Director and General Manager, DTCC Distribution Services. "We are delighted to work with Vestmark to improve operations within the industry, and ultimately, help participants better serve their clients." Connectivity will be enabled by utilizing message standards created by the MMI. "The communications standards that the MMI have published were developed by the industry, for the industry," said Gary Jones, Vice President for Industry Relations for the MMI. "Vestmark has been a strong supporter of the standards and we are pleased that they have committed to them by partnering with DTCC as users of their new managed account service. This is another great step forward in the effort to drive industry adoption of the standards." About Vestmark Vestmark is a technology platform provider for investment managers, overlay managers, plan sponsors, and operations outsourcing service providers in the managed accounts industry. Vestmark's solution enables greater product innovation, compliance, and increased operational efficiency. The Vestmark Managed Accounts Platform (VMAP) is a modern, web-based technology platform providing complete functionality and connectivity for investment managers, overlay managers, plan sponsors, and operations outsourcing service providers. VMAP was designed from inception to support the scalability, efficiency, and product flexibility requirements of the managed accounts industry. Vestmark is headquartered in metropolitan Boston, Massachusetts. For more information about Vestmark's managed account solutions, please call 781-224-3640, email info@vestmark.com, or visit www.vestmark.com. About DTCC The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC's depository provides custody and asset servicing for more than 2.5 million securities issues from the United States and 100 other countries and territories, valued at $31.2 trillion. Last year, DTCC settled more than $1.4 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com. back |
 |
|
|
 |
