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SS&C GlobeOp Depositary 'lite' gets FCA approval

08 July 2014  |  1115 views  |  0 Source: SS&C Technologies Holdings

SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that SS&C GlobeOp [1] has obtained Financial Conduct Authority (FCA) approval for its Depositary "Lite" service offering.

The recently launched service helps managers of non-EEA AIFs in fulfilling their Alternative Investment Fund Manager Directive (AIFMD) requirements.

SS&C will help managers comply with various aspects of the AIFMD including functions relating to asset verification, cash flow monitoring and oversight services.

"We have been operating as a Depositary "Lite" under the transitional provision for a number of months and we are delighted to now receive our full authorization," said Des Pierce, Senior Director, SS&C GlobeOp.

"We've seen strong interest in our Depositary "Lite" service and signed up several fund managers to date," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "We look forward to adding value to current and future customers with this offering and developing future enhancements as regulations continue to evolve."

Footnote: [1] GlobeOp Markets Limited is the regulated entity under which SS&C GlobeOp will provide their Depositary "Lite" services. GlobeOp Markets Limited is a wholly owned subsidiary of SS&C. 

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