According to a DTCC announcement, the MAS platform streamlines communications throughout the lifecycle of a managed account and links an unlimited number of business partners on either side of a transaction. It allows users to handle higher account volumes at lower cost; invest customers’ funds quickly; decrease manual processing; and lower operational risk.
DTCC plans to launch MAS Portal in the third quarter of 2009 and has selected Peridrome Corporation’s DashWM solution suite to power the new service.
“We’re excited about the potential for streamlining communications through a single gateway to make servicing managed accounts more efficient,” said Gib Veconi, president of Peridrome, in the release. “Managers won’t have to monitor multiple sponsor portals to keep up with daily volumes, and sponsors will be able to eliminate the cost of maintaining proprietary connections to communicate with those managers.”