Products November 10, 2010

Northern Trust Announces Collateral Management System Upgrade

Northern Trust announced that it has enhanced its collateral management system to provide real-time access and transparent reporting of the daily over-the-counter (OTC) derivative collateral call process.
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This enhancement allows clients to log into a dashboard to view the current status of exposures, collateral balances and OTC derivative positions, including valuations. The enhancement is available on a global basis to asset owners, such as pensions, endowments, corporate and institutional investors, and to asset managers, including Investment Operations Outsourcing clients.   

According to the announcement, in addition to the dashboard, the enhancement will allow clients to run reports on a range of OTC and collateral management issues: 

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  • Open OTC derivative positions and valuations, 
  • Collateral balances, 
  • Credit Support Agreement details, and  
  • Executive Summary of all counterparty credit risks. 

Through its collateral management service, Northern Trust performs all functions, including securing a daily independent valuation of the over-the-counter derivatives, counterparty exposure calculation, call notification, resolution of disputes on incoming/outgoing collateral calls, and clearing of collateral movements.

Products November 10, 2010

FolioDynamix and Scott & Stringfellow Team Up

FolioDynamix and Scott & Stringfellow announced today the launch of a new unified managed account (UMA).
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FolioDynamix, a New York-based firm focused on fee-based managed account solutions for the wealth management industry, and Scott & Stringfellow, a full service regional brokerage and financial services firm based in Richmond, Virginia, designed the program to target investor needs, such as early accumulation, retirement distribution, preservation and growth of capital.

Scott & Stringfellow is using Folio’s technology and services to build their fee-based advisory offerings in an integrated fashion. Key services include contracts with manager’s proprietary research, tear sheets, household proposal generation and IPS tools, overlay management tools, trade order management, billing, and household performance reporting.

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Their goal is to roll several programs into the new UMA. “We were able to close out legacy programs that were redundant in nature and roll them into the UMA and offer our client’s a more flexible offering with even greater manager and fund access,” said Drew Jackson, Manager of Fee Based Programs of Scott & Stringfellow, in a news release. “Our strategy is to provide a single platform for all accounts,” he added.   

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