The need for sophisticated compliance solutions to support structured products and derivatives is increasing in importance due to trends in the asset management industry – such as the expansion of eligible asset classes under the UCITS III framework. DekaBank, one of Germany’s leading asset managers, has deployed a new version of SunGard’s Asset Arena Compliance, including the UCITS III country-specific rules, to expand coverage for Germany and Luxembourg.
Asset Arena Compliance provides pre-trade and post-trade compliance for asset managers and fund administrators. SunGard has worked collaboratively with DekaBank to upgrade the firm’s existing Asset Arena solution by incorporating more advanced compliance rules coverage.
"We have been using SunGard’s Asset Arena Portfolio Management and Trading solution suite since 2002," commented Arne Ühleke, head of DekaBank’s "FondsCompliance" department. "With the addition of these new rules, we are better equipped to meet the demanding compliance needs for UCITS III products and financial instruments in Germany and Luxembourg for pre-trade compliance checks. With the help of SunGard’s Asset Arena professional services team, we were able to achieve a successful implementation that covered both plain vanilla instruments and their associated UCITS III German and Luxembourg rules, as well as complex instruments such as structured notes, OTC derivatives and asset-back securities."
Eyal Yaron, managing director in SunGard’s institutional asset management business, commented: "We have a strong relationship with DekaBank and the addition of these new enhancements provides a great example of how our customers can strengthen their operations by leveraging our professional services capabilities. We are pleased to help DekaBank compete more effectively in Germany and Luxembourg and capitalize on UCITS III expansion."