09 May 2017
Chicago
Reporter: Drew Nicol
Northern Trust and Donnelley tackle admin
Northern Trust and Donnelley Financial Solutions have teamed up to provide mutual fund administration clients with an automated process for the collection, creation, review and filing of disclosure documents.

The bank will use Donnelley’s ArcFiling solution to generate and submit the new N-PORT and N-CEN forms required under the reporting modernisation rules of the US Securities and Exchange Commission (SEC).

The reporting modernisation rules, which were adopted last year, will enhance data reporting for mutual funds, exchange-traded funds and other registered investment companies. They will be required to file a new monthly portfolio reporting form, known as Form N-PORT, and a new annual reporting form, known as Form N-CEN, which demands census-type information.

The rules also will require enhanced and standardised disclosures in financial statements and will add new disclosures in fund registration statements relating to a fund’s securities lending activities.

Most funds would be required to comply with the liquidity risk management programme requirements on 1 December 2018. Funds with less than a $1 billion in net assets will be required to comply on 1 June 2019.

“Northern Trust continually looks for ways to enhance our processes to help clients comply with regulatory rules,” said Dan Houlihan, head of Americas global fund services at the bank.

“With the ArcFiling tool, we will be able to streamline automated and efficient filing processes for our clients. This allows our clients to focus on the liquidity risk management programs for their funds.”

Eric Johnson, president of global investment markets at Donnelley Financial Solutions, said: “Our ArcFiling solution is designed to make it easier and more efficient for administrators and funds to manage the significant, monthly volume that N-PORT will introduce.”

More technology news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Softek wins eRoom mandate for intra-day credit and risk monitoring
13 June 2017 | Toronto | Reporter: Mark Dugdale
eRoom Securities, an introducing broker offering institutional brokerage and execution services, has selected Softek to provide intra-day credit and risk monitoring for its web-based client reporting system
Broadridge and Spence Johnson partner
12 June 2017 | London | Reporter: Drew Nicol
Broadridge Financial Solutions has partnered with Spence Johnson for retail and institutional data, benchmarking and analytics
IHS Markit launches derivative collateral solution
06 June 2017 | London | Reporter: Drew Nicol
IHS Markit has launched a cloud-based, end-to-end solution for calculating margin, settling calls and managing disputes
New CCP system promises efficient collateral management
06 June 2017 | Stockholm | Reporter: Mark Dugdale
Trading and clearing technology provider Cinnober has launched a risk management system for central counterparties
Misys and Message Automation tackle reg reporting
06 June 2017 | London | Reporter: Mark Dugdale
Financial services software provider Misys has built a regulatory reporting component in conjunction with Broadridge’s Message Automation for MIFiD II compliance. It can also accommodate SFTR
SIX x-clear adjusts CCP risk model
01 June 2017 | London | Reporter: Drew Nicol
SIX x-clear has recalibrated its inter-central counterparty risk models in order to improve accuracy
DLT poses fragmentation risk in EU, warns ECB
30 May 2017 | Brussels | Reporter: Stephanie Palmer
The increase in distributed ledger technology poses a risk of market fragmentation in the EU, but regulation should not hamper development, according to Mario Draghi, president of the European Central Bank