Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today launched a new version of Linedata Mshare investor accounting and administration solution.
This latest upgrade addresses forthcoming regulations and industry standards offering full compliance with FATCA. It also offers new SWIFT messaging capabilities in anticipation of a wider rollout of the new set of hedge fund SWIFT message formats.
Regulation has become a key issue and a growing overhead for administrators and their clients worldwide. Linedata Mshare now enables early compliance with FATCA, an upcoming major regulatory requirement, by ensuring that data are collected and flagged correctly. Linedata Mshare clients will be ready before the first deadline of January 1, 2013. Automating processes and building required reporting into the system will save time and resources for clients and enable Linedata Mshare users to focus on exceptions only.
In a second initiative targeting efficiencies, Linedata Mshare has added SWIFT MX messaging. This will let clients automate transaction processing from distributors and brings Linedata Mshare into line with ISO 20022, the latest International Standard for code extension techniques. For hedge fund administrators this is particularly important in light of SWIFT's SHARP (SWIFT Hedge Funds Harmonization Project) initiative which aims to streamline communication between hedge funds, their custodians and administrators; full SWIFT SHARP messaging will be available on Linedata Mshare in the new year.
"Although there are still some unknowns around FATCA implementation and compliance, Linedata is creating a framework which will enable our clients to meet these new regulatory requirements without adding a prohibitive administrative overhead," explained Noreen Crowe, Linedata's Vice President in charge of Linedata Mshare product management. "We are constantly surveying the administrative landscape and anticipating what our clients will need, not only in terms of regulation, but also to meet industry standards, such as the latest SWIFT messaging standards. Linedata is always looking for ways in which our clients can gain competitive advantage. These new developments in Linedata Mshare will also benefit our platform clients who use the investor accounting and administration module in Linedata Global Hedge and Linedata Admin Edge."