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Products May 21, 2009
DTCC Improves Access to Managed Account Services
May 21, 2009 (PLANSPONSOR.com) - The Depository
Trust & Clearing Corporation (DTCC) has introduced MAS
Portal, a new Web-based interface to its Managed Accounts
Service (MAS) that will enable immediate connectivity for
investment managers who oversee managed accounts
programs.
Reported by Rebecca Moore
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, the announcement said.
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 announcement. “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.”