TORONTO, May 8, 2012 /CNW/ - International Financial Data Services (IFDS) Canada, a leading provider of technology and outsource services to the financial services industry, announced today their intention to support the CANNEX GIC Order Origination, Validation and Confirmation files as part of their servicing solutions for Canadian deposit taking institutions.
IFDS recently announced the introduction of a new technology and operations outsource solution focused on the needs of deposit taking institutions, launching summer 2012. The IFDS Deposit Servicing solution will provide a low cost, innovative and reliable alternative to traditional 'in-sourced' solutions. In addition, the IFDS solution will support existing automated sales channels including CANNEX, GICSERV, FundSERV and will support client named account orders through branch, direct sales and deposit brokers.
"We are pleased to reaffirm our long standing relationship with CANNEX to support the new efficient delivery and execution of GIC orders from brokers, dealers and advisors," said John Bennett, Senior Vice President, co-lead of the Deposit Servicing team, IFDS Canada.
"They pioneered the electronic order and settlement of GICs in Canada and have been a great supporter as we build the next generation GIC back office servicing platform," continued Scott Wilkinson, Senior Vice President, co-lead of the Deposit Servicing team, IFDS Canada.
"CANNEX is looking forward to working with IFDS to further expand the number of brokers, dealers, advisors and issuers taking advantage of the fully automated GIC processing and administration services provided by CANNEX", said Alex Melvin, President of CANNEX Financial Exchanges Limited.
IFDS continues to be recognized for innovative solutions, technology, and most recently for its corporate social responsibility. IFDS won the "Best Use of Technology" award for two years consecutively in 2009 and 2010 at the Canadian Investment Awards and was recognized with "Most Innovative Project of the Year" at the 2011 ICFA Americas Service Provider Awards. IFDS was also honoured by the 2011 Stevies American Business Awards for "Corporate Social Responsibility" and for being the "Most Innovative Company of the Year."
CANNEX Financial Exchanges Limited is a privately held company that, in addition to its processing and admin services, also provides data / information services and custom / proprietary application development and hosting services for dealers and financial institutions in Canada and the United States.
IFDS Canada creates the technology and service solutions the financial industry is built on. Leading investment and insurance providers trust IFDS Canada for their award-winning record-keeping platform and back office services. For more than 30 years, IFDS Canada's knowledge, experience, financial strength and advanced technology have enabled their clients around the globe to achieve their business goals and their investment in the future will help them continue to lead the way. www.ifdsgroup.com
NOTES TO EDITORS:
International Financial Data Services ("IFDS"):
Is a 50/50 joint venture between affiliates of Boston-based State Street Corporation, the world's leading provider of services to institutional investors, and DST Systems Inc., a Kansas City, Missouri-based leading provider of shareholder accounting services and proprietary systems.
IFDS is today recognized as the world's leading provider of investor record keeping and transfer agency solutions on a BPO (Business Process Outsourcing) and ASP (Application Service Provision) basis. Our services are provided to a wide range of global collective investment, wealth management and platform clients, supporting over 18.5 million accounts for over 200 organizations, over 8,500 share classes and with over 3,500 experienced staff based in four locations (Canada, Ireland, Luxembourg & United Kingdom). Figures as December 31, 2011.
State Street Corporation:
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $21.8 trillion in assets under custody and administration and $1.9 trillion* in assets under management at December 31, 2011, State Street operates in 29 countries and more than 100 geographic markets. For more information, visit State Street's web site at www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx. $63 billion as of December 31, 2011), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent.
DST Systems, Inc.:
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly-traded company on the New York Stock Exchange.
For further information:
International Financial Data Services
Tobi McGrory, Senior Vice-President, Marketing and Communications & Product Management
T +1 416-506-8006