Consolidated exception management, APIs and the evolution of the middle office.
Within every process across the front, middle and back office, there are anomalies (known in asset management parlance as ‘exceptions’). Compliance, risk, corporate actions, fund accounting, Investment Book of Records, trade processing, client reporting – there are exceptions at every turn. Many asset managers have different systems for all of these processes, each generating their own list of exceptions. Even within each stage of the investment process there may well be more than one system reporting the anomalies.