Captial Group has become the latest buy-side firm to integrate Saphyre’s technology.
Saphyre’s technology manages the onboarding and maintenance of custody, broker trading, and buy-side accounts.
It also synchronises associated reference data between such entities in real time, providing users with a “golden source of data” to all external permissioned parties using the platform.
Saphyre suggests this solution eliminates issues related to failed trades downstream and allows for better real-time collaboration which should support participants in light of the global shifts to a T+1 settlement regime.
“Having Capital Group, a top five financial investment management firm, join this endeavor is incredibly exciting,” said Stephen Roche, president and co-founder at Saphyre.
“Capital Group is elevating its finance operations while at the same time helping streamline procedural engagements with their counterparties. The benefits of using the Saphyre platform will continue from the start of a new fund through settlement after every trade execution.”
Several buy-side institutions have opted to integrate Saphyre’s solution in the last six months. Among the most recent names are Jupiter Asset Management, abrdn and Legal and General Investment Management.
Saphyre won the Fintech of the Year Award at Leaders in Trading 2023.