Altus

Altus completes first portfolio transfer

13th Jun '11

Altus today announced successful completion of the first ever multi-party portfolio transfer over the SWIFT network. The transfer, using TISA-endorsed open re-registration standards, was carried out using the Altus Transfer Gateway (ATG) and involved Ascentric, Fidelity, Schroders and IFDS – all participants in the first phase of Altus re-registration pilots.

The transfer was the first live test of the UKFMPG market practice and proved that end-to-end portfolio transfer is feasible within TISA’s recently announced 24-hour benchmark – the whole process was completed in just 38 minutes. Whilst the test conditions in a pilot may be slightly flattering, there is no doubt that the smooth flow of messages between all parties in the very first live test was a great achievement and testament to both the rigour of the ISO20022/SWIFT standard and the software engineering behind ATG.  

For the full press release click here.

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