Wachovia Corporation has signed a new, long-term partnership agreement to use investment-processing technology from SEI Investments for its institutional-custody business. Under the agreement, Wachovia will use SEI's straight-through-processing solutions to automate its client servicing and processing functions. Wachovia's institutional-trust services provide a range of global custody, securities lending and short-term asset-management services to corporate and institutional clients.
Omgeo, a provider of global-trade-management services and Thomson Financial, a provider of information and technology solutions to the financial community, announced that Royal London Asset Management, an investment manager, has become the first investment-management firm to centrally match cross-border-live trades. The first trades were carried out with broker, Dresdner Kleinwort Wasserstein and were processed on Omgeo Central Trade Manager using Thomson Financial's Icon investment-accounting system.
SeeBeyond, a global provider of e-business and application-integration solutions, announced that Swiss-based Zurcher Kantonalbank (ZKB) has selected the SeeBeyond Business Integration Suite to facilitate data transfer between the bank's internal and external systems and to streamline the processing of Swift transactions.