Thomas Murray launches AIFMD risk product
The suite provides depositary banks with comprehensive monitoring of their custodian banks, transfer agents, prime brokers and other third parties that they are exposed to such as cash correspondents and collateral agents.
"Monitoring of a bank's entire post-trade network is a time consuming and complicated process, as a lot of depositary banks are realising in their efforts to comply with the AIFM directive," said Simon Thomas, CEO of Thomas Murray.
“The Thomas Murray total risk solution provides a robust solution to a regulatory headache for banks and removes the time and much of the cost of conducting market and counterparty monitoring processes in-house."
Thomas Murray already delivers post-trade risk monitoring for over 65 global banking groups, more than 25 of which act as depositary banks.
"We are in ongoing discussions with many more throughout Europe, each one obliged to monitor its own post-trade infrastructures and counterparty exposures in accordance with the depositary bank liability under the AIFM directive," said Thomas.
The group has recently expanded its suite of information services to include the AIFM directive market profiles. Covering over 100 markets globally, these profiles cover everything from a country's propensity to natural disaster and civil unrest, to the risks inherent in its FMI.
Depositary bank liability under the AIFM directive covers assets in custody held by its network, including third party global custodians, sub-custodians, prime brokers, collateral agents and transfer agents for units in funds, and stipulates strict restitution for any loss of assets occurring in this network.
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