Sprott Asset Management Selects SSCNet for Automated Settlement Notification |
Date: Wednesday, May 28, 2014
Author: News Release
SSCNet Expands Post-Trade Connectivity for Sprott’s Counterparties
WINDSOR, CT, May 28, 2014 – SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a
global provider of financial services software and software-enabled services,
today announced that Sprott Asset Management (Sprott) has selected SSCNet for
automated settlement notification. The global network will enable trade
communication between Sprott and its broker/dealers, custodian and prime
brokers.
SSCNet will replace Sprott’s manual post-trade communication processes and
consolidate all communication across a broad set of instrument and transaction
types. Sprott will also use SSCNet’s SWIFT gateway connectivity and automated
email/fax functionality.
“Connecting our front-office system to SSCNet, which includes SWIFT connectivity
and ISO standard messaging capabilities, will reduce time and errors when
communicating trade details to our custodians and prime brokers. It enables us
to make significant strides towards a straight-through processing environment,"
said Johann Lau, VP, Investment Administration, Sprott Asset Management. “We
have selected SSCNet’s automated settlement service as it helps all our
participants benefit from a more efficient, standardized process."
"We are pleased to bring leading post-trade automation services to our
customers. Sprott will notice an improvement on match rates earlier in the trade
settlement life cycle,” said Bill Stone, Chairman and Chief Executive Officer,
SS&C Technologies. “This is another example of SS&C’s commitment to delivering
workflow solutions which help our customers achieve a more efficient operating
environment.”
SSCNet is a global trade communication network linking investment managers,
broker/dealers, custodians and interested parties. SSCNet's hosted service is
available 24/7 on a secure platform, supports multiple formats and connects
directly to trade counterparties, including SWIFT connectivity.
About Sprott Asset Management
Sprott Asset Management LP, a wholly owned subsidiary of Sprott Inc., is a fund
company dedicated to achieving superior returns for its investors over time.
Sprott Asset Management LP manages assets primarily for institutions, endowments
and high net worth individuals and is the investment manager of the Sprott
Mutual Funds. Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Please read the prospectus
before investing. Mutual funds are not guaranteed, their values change
frequently and past performance may not be repeated. The information contained
herein does not constitute an offer or solicitation by anyone in the United
States or in any other jurisdiction in which such an offer or solicitation is
not authorized or to any person to whom it is unlawful to make such an offer or
solicitation. Prospective investors should consult their financial advisor to
determine if the Sprott Mutual Funds may be sold in their jurisdiction.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services
and software focused exclusively on the global financial services industry.
Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices
around the world. Some 6,900 financial services organizations, from the world’s
largest institutions to local firms, manage and account for their investments
using SS&C's products and services. These clients in the aggregate manage over
$26 trillion in assets.
Additional information about SS&C (NASDAQ: SSNC) is available at www.ssctech.com
Follow SS&C on Twitter, Linkedin and Facebook. The SS&C Technologies logo is
available atwww.globenewswire.com/newsroom/prs/?pkgid=8587
Kheli Chevalier
Account Executive
BackBay Communications
20 Park Plaza Suite 801
Boston, MA 02116
(617) 556-9982 ext.228
www.backbaycommunications.com
@khelibackbay