23 October 2017

Princeton implements EPN interface for ABP Investment

24 August 2001  |  1246 views  |  0 Princeton implements EPN interface for ABP Investment

ABP Investments, the US subsidiary of Netherlands-based Stichting Pensioenfonds ABP, is claiming a 75 per cent improvement in mortgage-backed securities processing following the implementation of an Electronic Pool Notification (EPN) interface from Princeton Financial Systems.

Princeton delivered the interface functionality with development assistance from California's NewtonPartners. It enables straight through processing (STP) of mortgage-backed security trade allocations through MBS Clearing Corp.'s Electronic Pool Notification (EPN) System using Princeton's PAM portfolio management software.

EPN is an electronic communication network that allows participants to transmit and retrieve mortgage-backed security pool information via standardised message formats. Before creating PAM messages to process transactions, the EPN interface automates the processing of TBA allocations and identifies corresponding TBA transactions in PAM. It also determines if the mortgage-backed security pool is already set up. If it is not set up, the EPN interface uses PAM's Bloomberg Data License interface to pull in the pool and factor data as needed to process the allocations.

Prior to implementing the EPN Interface, ABP processed TBA pool allocations manually. By automating the process through the EPN Interface, ABP has reduced its processing by 75 percent.

"For several years, the industry has needed improvement in the settlement area of mortgage-backed securities TBA pool allocations," says Jeanine Presa, senior vice president of operations for ABP US. "The EPN Interface has significantly reduced our processing time and increased our capacity to handle more volume. It adds controls to our workflow and enables timely settlement between our custodian, State Street, and our brokers. Now our company is closer to STP solutions before 2002 and our business has increased capacity to handle growth and change in our future."

In a separate announcement, Princeton is to offer the MAX performance system from Sydney-based Alphai as an ASP offering to its ePAM and PAM licensees. The MAX system is designed for the calculation, analysis and reporting of performance and attribution of global or domestic investment portfolios. The system provides institutional investors with functionality that allows them to model their investment decision process by defining a number of parameters relating to a particular investment portfolio and benchmark portfolio.

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