Invesco Australia has implemented Toronto-based Financial Models Company's FMCNet solution for trade communication to its custodians.
Invesco Global has been using FMC systems since 1994, including FMCPacer for institutional fund investment accounting and daily unit trust valuations. The Australian implementation replaced a proprietary trade notification system.
FMCNet communicates electronic trade notifications from a manager's internal system to multiple counterparties.
Lewis Bearman, head of operations, Invesco Australia, comments: "We can leverage the global infrastructure of FMCNet to efficiently take on additional security types for STP."