22 March 2018
visit www.ebaday.com

Thomas Murray Data Services launches risk tech to aid AIFMD compliance

18 July 2014  |  1178 views  |  0 Source: Thomas Murray Data Services

Thomas Murray Data Services has launched a suite of products and has been working with a number of depositary banks to provide a total risk solution to ensure depositary bank compliance with the Alternative Investment Fund Managers Directive (AIFMD).

"Thomas Murray Data Services already delivers post-trade risk monitoring for over 65 global banking groups, more than 25 of which act as depositary banks," says Simon Thomas, CEO of Thomas Murray Data Services. "We are in ongoing discussions with many more throughout Europe, each one obliged under AIFMD to monitor its own post-trade infrastructures and counterparty exposures in accordance with the depositary bank liability under AIFMD."

Thomas Murray Data Services provides depositary banks with comprehensive monitoring of their custodian banks (global and/or sub-custodian banks), transfer agents, prime brokers and other third parties that they are exposed to such as cash correspondents and collateral agents. This utilises Thomas Murray Data Services' well-established financial market infrastructure (FMI), capital market infrastructure and counterparty risk assessments.

"Monitoring of a bank's entire post-trade network is a time consuming and complicated process, as a lot of depositary banks are realising in their efforts to comply with AIFMD," continues Simon Thomas. "Many are choosing to utilise the services that firms such as ours provide. The Thomas Murray Data Services total risk solution provides a robust solution to a regulatory headache for banks and removes the time and much of the cost of conducting market and counterparty monitoring processes in-house."

The group has recently expanded its suite of information services to include AIFMD Market Profiles. Covering over 100 markets globally, these profiles cover everything from a country's propensity to natural disaster and civil unrest, to the risks inherent in its FMI. Also included are information and news flashes on local rules and market practice, general economic indicators, legal and regulatory frameworks, local market administration organisations, market entry requirements and asset safety.

Depositary bank liability under AIFMD covers assets in custody held by its network, including third party global custodians, sub-custodians, prime brokers, collateral agents and transfer agents for units in funds, and stipulates strict restitution for any loss of assets occurring in this network.

With the 12 month grace period following the implementation of AIFMD due to expire on 22 July 2014, an increasing number of depositaries are choosing to partner with Thomas Murray Data Services to support their AIFMD compliance and counterparty monitoring systems.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.ebaday.com

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
13354 views 0 | 5 tweets | 4 linkedin
Can banks be a threat to Big Tech?Can banks be a threat to Big Tech?
10892 views comments | 31 tweets | 40 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
10418 views comments | 14 tweets | 32 linkedin
RBS hatches plan to create digital challenger bankRBS hatches plan to create digital challen...
10206 views comments | 12 tweets | 23 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
9759 views comments | 14 tweets | 29 linkedin

Featured job

Hong Kong, Asia-Pacific

Find your next job