Princeton Financial Systems, a part of State Street Global Exchange, today announced the launch of the latest enhancements to MIG21, its market-leading investment compliance and risk monitoring solution, with specific functionality to address upcoming UCITS regulatory changes.
MIG21 7.4 improves asset reclassification, which is now integrated as a standard function and allows simple manual and automated reclassification of assets, and significantly increases the speed and performance of calculating global exposures. The latest version also provides improvements in the user interface with a range of new administrative features. For example, users can now export mapping configurations to facilitate analysis, documentation and archiving and the memo function has been expanded, improving compliance breach communications.
"We continuously work to monitor and anticipate the impact of the constant influx of regulatory updates on our customers' needs in order to provide them with the best solutions to support their business priorities," said Ronald Knecht, product director and vice president at Princeton Financial Systems. "MIG21 7.4 provides our customers with mission critical tools and functionality to more efficiently and effectively manage their compliance."
"We look forward to continuing to enhance our investment management software solutions and will build on our successful framework within State Street Global Exchange in the coming months," said Ivan Matviak, senior vice president of State Street Global Exchange.
MIG21 is the compliance system of choice for seven of the world's ten largest global custodians, as well as many asset and fund managers, insurance companies and hedge funds in all parts of the world. MIG21 optimizes and automates pre-trade and post-trade investment compliance checking, and improves the administration of regulatory, prospectus and internal investment guidelines and resolution workflows. A flexible rules engine combined with advanced data and resolution management tools provide fully auditable controls of the investment process.
MIG21 integrates with Princeton Financial Systems' LawCard® Service, enabling investment organizations to rapidly expand into new legal jurisdictions and adapt to new regulations without overheads or delay. LawCards are comprehensive predefined rule sets for MIG21 covering country-specific legal investment restrictions of the world's major financial centers. They support all asset classes as well as complex structured products and derivatives.