MEAG Utilizes SimCorp’s Front-Office Suite Globally [Professional Services Close – Up]

SimCorp, a provider of investment management solutions and services for the global financial services industry, announced that MEAG, an asset manager with close to 228 billion Euros in assets under management, has chosen to extend its SimCorp Dimension installation into the company's front-office.

MEAG will now use SimCorp's entire front-office suite, including Compliance Manager, Asset Manager and Order Manager for its units in New York and Hong Kong, as well as its headquarters in Munich.

According to the company, by using a single, integrated software solution for all business areas, MEAG can ensure consistent data across its portfolio management, compliance and controlling systems through to the back-office and accounting businesses. This will enable increased efficiency and synergy across the organization.

The front-office will gain access to a customizable interface that runs on real-time data. The information flow will be improved by allowing instant verification of activity and giving the traders the ability to send trades directly to counterparties. With this new functionality, MEAG will have a solution to more easily comply with financial market regulations worldwide. The integrated front-to- back solution will also provide MEAG with:

-A more efficient check of compliance rules on investment mandates

-The integration of various feeds from trading platforms and market data, in particular benchmarks

-A qualitatively improved foundation of analytical key figures

Together with SimCorp, MEAG will also expand its functionality to include attribution analysis and simulation.

"In the current challenging capital markets environment, our declared goal is to expand the use of SimCorp Dimension to ensure the most efficient management of our large, internationally diversified investment portfolio," explains Claudio-Peter Prutz, Head of IT and organizational development of MEAG. "The front- office suite of SimCorp Dimension will not only advance our capabilities within the front-office, it will also allow for better integration, straight-through-processing and automation with the rest of the system."

"MEAG is an extremely professional partner that is constantly looking for ways to optimize its business and client service," explains Dr. Ralf Schmucker, Managing Director of SimCorp Central Europe. "We are pleased that MEAG recognized that our front-office suite was the right solution to help further develop its global asset management business."

SimCorp has been providing investment and portfolio management software and services to investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds and wealth managers.

MEAG is the asset manager of Munich Re, a reinsurers and ERGO, an insurance group in Europe.

More Information:

http://www.simcorp.com/product

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