MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, March 30, 2023 American Century and Northern Trust Test a Data Platform Two mutual fund firms are among the six firms in the first round of testing a new, blockchain-based data platform. American Century and Northern Trust both recently participated in what Swift executives are calling a successfully test of their new platform for helping asset managers track corporate action reports. The Swift team released a 15-page report earlier this mont. Our sister publication CeFiWire dug into the news last week. Six asset managers participated in the platform test, according to the Swift folks. They revealed three of those asset managers: Northern Trust, American Century, and Citi. Jonthan Ehrenfeld, securities strategy director at Swift, states that fund firms could receive up notifications (sometimes containing conflicting or even contradictory) from up to 100 sources on a single corporate event like a merger or dividend payment. Sorting through and cleareing up all that is where Swift's platform is meant to come in. "Our experiments harnessed the power of blockchain technology to give all market participants a single, accurate view of a corporate action event," states Tom Zschach, chief innovation officer at Swift. Printed from: MFWire.com/story.asp?s=65777 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |