Confluence has launched a new component of its Unity platform, Post-Trade Compliance, to be used by fund administrators. The company is putting this new facet on display at its booth at the NICSA Technology Summit 2007 in Las Vegas.

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Confluence, the global investment management industry's leading provider of automated data management solutions, has launched Unity™ Post-Trade Compliance for fund administrators. The company is featuring the new solution in Booth # 110-112 at the NICSA (The National Investment Company Service Association) Technology Summit 2007 in Las Vegas October 23 – 26.

Fund administrators play an important role in the portfolio compliance testing process. They provide oversight of investment advisers to ensure that their selection of securities remains compliant with regulatory and prospectus investment limit restrictions after trades have settled. Unity Post-Trade Compliance automates this process, and efficiently supports growing demands by chief compliance officers (CCOs) and Boards for daily testing. The system ensures data integrity while providing fund administrators with a solution specifically designed to support compliance testing processes in the post-trade environment.

"Due to the labor-intensive nature of the tasks involved with post-trade monitoring of investment restriction compliance, our desire to be as rigorous as possible while maintaining current staff levels had become extremely challenging," said Layne Rasmussen, Vice President and Controller, Principal Funds. "Unity Post-Trade Compliance is designed to automate processes that were previously completed manually, while enabling us to centralize post-trade compliance holdings data and monitoring on one system. As a result, we expect to gain tighter control and the ability to increase the frequency of testing without increasing staff."

"Unity Post-Trade Compliance provides CCOs and Boards peace of mind, knowing that their funds are in compliance with investment limit restrictions required by regulations and fund disclosure documents," said Kirk Botula, Executive Vice President and Chief Operating Officer of Confluence. "Until now, fund administrators have relied on time-consuming, error-prone manual processes or systems not specifically designed for independent post-trade compliance testing. Unity Post-Trade Compliance automates the process to meet demands for more frequent testing and stringent controls."

Unity Post-Trade Compliance automates the process of collecting and managing portfolio, holdings and security data; creating restrictions; confirming test results; and delivering reports and exceptions to CCOs, Board members, auditors, and regulators. In addition, Post-Trade Compliance is designed to maintain an audit trail of all test results, exceptions, violations, and actions taken to ensure adherence to regulatory requirements and clearly demonstrate that proper controls are in place.

Unity Post-Trade Compliance is part of Confluence's Unity platform, which has emerged as the administrative hub for asset managers. Leveraging one centralized database, Unity replaces multiple manual processes with the ability to achieve mass customization, process consolidation, and complete automation of vital reporting functions. Benefits include reduced costs, elimination of risks, elevated service levels, and the scalability to add functionality without more resources. As with all Confluence products, Unity Post-Trade Compliance is available to be installed as part of a company's technology infrastructure or online for users who prefer a fully hosted option.

About Confluence

Founded in 1991, Confluence is the global investment management industry's leading provider of automated data management solutions. Confluence helps investment management companies gain unprecedented control by automating every step of the fund administration process—including the collection, creation, confirmation, and delivery of investment product data while maintaining control of the process. Results are lower costs, reduced risk, decreased reporting turnaround times, and the scalability to automate more processes without additional resources. Confluence's solutions are used by 40 percent of the leading global investment managers, and more than 60 percent of U.S. mutual funds. Unity™, the Confluence platform, addresses a wide range of problems from performance measurement to customized reporting for a full array of domestic and international managed investment products, including mutual funds, funds of funds, collective funds, separate accounts, and variable products, as well as hedge funds and other alternative investments. Major fund companies such as Evergreen and Merrill Lynch and service providers like JP Morgan, PFPC and Bank of New York rely on Confluence. Confluence, headquartered in Pittsburgh, PA, serves the international fund industry with key locations in London and Luxembourg. For more information, visit www.confluence.com or email info@confluence.com. 

Edited by: Erin Kello


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