SIS to launch world's first fund settlement service

SIS SegaInterSettle is to launch the world's first automated service for the settlement of offshore & hedge funds. The service revolves around a real-time link between SIS SegaInterSettle, its participants and the transfer agents. The company plans to implement the new service in December 2006.

With the launch of GFS – Global Funds Services – the traditionally labour- and paper-intensive settlement of offshore & hedge funds will be largely automated. The service is based on a real-time link between the GFS Internet portal and SECOM, SIS SegaInterSettle's online real-time settlement system. It offers standardised settlement at the ISO 15022 quality standards. The service simplifies securities and cash reconciliation and allows for monitoring and overview of the statuses of pending orders at all times.

Source: SIS Group


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