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UK's Jupiter Asset Management Picks Streamstream's Reconciliations Service

Asset manager will benefit from lower operational costs without an on premises installation.

Jupiter Asset Management has chosen TLM OnDemand, SmartStream’s SaaS reconciliation services, for its cash and securities transaction processing.

According to a press statement, as a specialist boutique, launched in 1985, Jupiter Asset Management has become one the UK’s most successful and respected investment management groups. Today its assets spread across a range of UK and offshore mutual funds, multimanager products, hedge funds, institutional mandates and investment companies.

Jupiter selected SmartStream’s TLM OnDemand reconciliation service to improve its operational efficiency, according to the release. With TLM OnDemand, Jupiter will have access to the TLM Reconciliations-Premium solution through a highly flexible transaction-based pricing model, according to the press release. This will allow the asset manager to benefit from the latest transaction matching engine, enhanced exception management, investigation capabilities, and improved reporting capabilities without rigid operational costs associated with an on-premise installation, noted the press release.

According to a spokesperson for Jupiter, “Using TLM OnDemand is attractive as it introduces greater levels of automation through proven technology. As a result of its industry leading match rates we can improve our transaction processing efficiency, while the flexible pricing model enables us to better align operational costs to processing requirements. The SaaS-based approach also lowers the lifetime cost of the solution as we don’t have to manage related IT such as hardware or software upgrades; that is all delivered as part of the service.”

Richard Cummings, EVP at SmartStream, further stated in the same release, “Many firms are looking to introduce technology to make their back office operations more efficient but also need to ensure any IT investment delivers greater value. TLM OnDemand’s SaaS approach provides a lower total-cost-of-ownership (TCO) route to accessing our market leading technology but without compromising on the functionality of the tools provided to the end user. I’m delighted that Jupiter Asset Management has selected TLM OnDemand as its reconciliations solution to lower its transaction processing costs and reduce operational risk.”

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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