Pittsburgh, PA, and London, June 11, 2020 – Confluence Technologies, Inc. (“Confluence”), a global technology solutions provider delivering innovative products to the worldwide money management industry, has secured a five-year contract with a United Kingdom-based asset manager that will use the firm’s ESMA Money Market Fund Reporting and risk and compliance solutions.
This deal demonstrates the value of Confluence’s expanded offering since its October 2019 acquisition of StatPro Group plc (StatPro), a firm that was recognized globally for its cloud-based portfolio analytics, asset data services and data management tools.
The asset manager will use Unity NXT® Regulatory Reporting to satisfy the complex disclosures required under the new European Securities and Markets Authority (ESMA) Money Market Fund Regulation (MMFR) and will use Revolution, a cloud-based platform, across its fund range as an investment risk and compliance oversight tool and to produce stress tests in line with evolving ESMA regulatory requirements.
“Our new client needed a robust solution to satisfy MMFR, but also wanted to improve on the independence of its risk and compliance functions, coupled with enhanced reporting capabilities,” said Confluence’s President and Chief Operating Officer, Todd Moyer. “Its senior management was able to see the value of addressing a range of operational and fiduciary responsibilities by using a single provider, and we’re pleased that we can help them achieve this goal.”
“Confluence’s acquisition of StatPro brought together two highly complementary businesses to create a global technology provider delivering cloud-native solutions for risk, performance analytics, and regulatory and investor reporting to the asset management, asset owner and asset servicing markets,” continued Moyer. “While COVID-19 has changed our lives in a number of ways, it hasn’t prevented us from moving forward at this pivotal time for our company. Our teams have been working tirelessly to integrate StatPro’s products and services with Confluence’s, demonstrating our commitment to providing our clients with the solutions they have come to expect and depend on. Today’s announcement shows that asset managers have taken notice and are beginning to avail themselves of the expanded solutions we now offer.”
Revolution is a cloud-based platform, offering vital analysis of portfolio performance, attribution, risk and compliance. It helps clients reduce costs, improve client communication and control investment decisions.
Unity NXT® Regulatory Reporting eases data management challenges and automates the filing processes for global regulatory reporting obligations. It is a flexible platform that delivers solutions to global reporting challenges in an ever-evolving regulatory landscape.
Under Article 37 of the MMFR, large European MMFs and their administrators are required to lodge their first reports by September 2020. ESMA is requiring detailed information on performance, liquidity, stress test results and holdings level-data.
|Forefront Communications Group|
|Michael Kingsley||+1 212-320-8984
Confluence is a global technology solutions provider delivering innovative products to the worldwide money management industry that meet asset manager and service provider performance, reporting, analytics, risk and data needs. With the recent acquisition of StatPro, Confluence offers its clients a broader range of data-driven managed investment solutions, including post-trade regulatory and shareholder reporting, performance and attribution, portfolio analytics, asset data services and data management, delivering a full technology suite to the front, middle and back office. Headquartered in Pittsburgh, PA, Confluence services over 400 clients in 39 countries, with locations across Europe, North America, South Africa, Australia and Asia. For more information, visit https://www.confluence.com/